Eurocurrency Market
The money market in which Eurocurrency, currency held in banks outside of the country where it is legal tender, is borrowed and lent by banks in Europe.
The Eurocurrency market allows for more convenient borrowing, which improves the international flow of capital for trade between countries and companies. Investopedia Says:
For example, a Japanese company borrowing U.S. dollars from a bank in France is using the Eurocurrency market. Related Terms:
Capital
Currency
Eurobank
Eurobond
Eurocurrency
Eurodollar
Forex - FX |