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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

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

Eurocurrency began as an offspring of the cold war.

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

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