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.

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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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Etymology

Origin of Eurocurrency

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

Example Sentences

He shorted, betting that the pound would not be able to hold its value against other currencies traded within the Exchange Rate Mechanism, which seeks to fix the value of European currencies in preparation for a common Eurocurrency.

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 day of a truly unified Eurocurrency�or "Euro" as moneymen call it �is still far away.

From Time Magazine Archive

Even if foreign-exchange dealings were to return to normal, international bankers face another major problem: stagnation in the "Eurocurrency" market.

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