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

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

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

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

If Eurocurrency lending is regulated in London or Luxembourg, they say, it will only sail away to Singapore or Bahrain, where no controls are likely to be imposed.

From Time Magazine Archive

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

From Time Magazine Archive