Eurocurrency
Currency deposited by national governments or corporations in banks outside their home market. This applies to any currency and to banks in any country. For example, South Korean won deposited at a bank in South Africa, is considered eurocurrency.
Also known as "euromoney". Investopedia Says:
Having "euro" doesn't mean that the transaction has to involve European countries. However, in practice, European countries are often involved. Related Terms:
Eurobank
Eurobond
Eurodollar
Eurodollar Bond
Euroyen
Inward Arbitrage
London Interbank Bid Rate - LIBID
London Interbank Offered Rate - LIBOR
Outward Arbitrage |