Eurocurrency

American  

[yoor-oh-kur-uhn-see, ‑-kuhr‑, yur‑] / ˈyʊər oʊˌkɜr ən si, ‑ˌkʌr‑, ˈyɜr‑ /

noun

plural

Eurocurrencies

1. funds deposited in the bank of a European country in the currency of another country.

---

eurocurrency British  

/ ˈjʊərəʊˌkʌrənsɪ /

noun

1. (sometimes capital)

   1. the currency of any country held on deposit in Europe outside its home market: used as a source of short- or medium-term finance, esp in international trade, because of easy convertibility

   2. ( as modifier )

      the eurocurrency market

---

Etymology

Origin of Eurocurrency

Euro- ( def. ) + currency ( def. )

Example Sentences

When the Fed tightens money to restrict loans in the U.S., banks often bring back the funds from the Eurocurrency market.

From Time Magazine Archive

Last month the country could obtain Eurocurrency credits on highly favorable terms.

From Time Magazine Archive

The non-Communist world may well evolve into two huge trading and currency areas, one based on Eurocurrency and the other based on the dollar.

From Time Magazine Archive

Yet for foreign borrowers, this high cost of U.S. money remains competitive in most instances with interest rates in the Eurocurrency market, although currency fluctuations can make one or the other market momentarily more attractive.

From Time Magazine Archive

The Gandhi government recently obtained $680 million in loans on the Eurocurrency market to build an alumina plant southwest of Calcutta.

From Time Magazine Archive