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• Eurocurrency
  Eurocurrency

  noun

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

  noun

  (sometimes capital)

Eurocurrency

American  

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

noun

Eurocurrencies plural

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

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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

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Other Word Forms

Inflected Forms

noun

• Eurocurrencies
  plural

Etymology

Origin of Eurocurrency

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

Example Sentences

If the Common Market countries want to go further and create a Eurocurrency to rival the dollar, they will gradually have to give up much of their individual autonomy.

From Time Magazine Archive

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

From Time Magazine Archive

OPEC'S leaders, ever fearful of placing too much money in any one country, prefer to keep their petrodollars in short-term Eurocurrency deposits free from the long arm of any government.

From Time Magazine Archive

I am very encouraged that part of Volcker's approach is an attempt to deal also with the problems posed by the Eurocurrency market.

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