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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-] / ˈjʊər oʊˌkɜr ən si, -ˌkʌr-, ˈjɜr- /

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

Noun Inflected Forms

• Eurocurrencies
  plural

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Etymology

Origin of Eurocurrency

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

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Example Sentences

See Examples For:

Eurocurrency Eurocurrencies

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

For the longer term, the Common Market nations are slowly moving toward creating a Eurocurrency that would challenge the dominance of the dollar in world monetary affairs.

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

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

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

British Novelist Margaret Drabble has described the Eurocurrencies as ''colorless, odorless, tasteless, unspendable money that passes in hieroglyphics through computers from one part of the globe to another.''

From Time Magazine Archive

On the other side, worried government bankers agree with Guido Carli, former chief of Italy's central bank, that Eurocurrencies have become ''the root of all evil in the international monetary system.''

From Time Magazine Archive

If they simply borrowed, say, dollars in New York or pounds in London, they would be forced to pay stiffer rates than for Eurocurrencies.

From Time Magazine Archive

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