Funds deposited in a bank when those funds are denominated in a currency differing from the bank's own domestic currency. Eurocurrency applies to any currency and to banks in any country. Thus, if a Japanese company deposits yen in a Canadian bank, the yen will be considered Eurocurrency.
Main Entry: Eu·ro·cur·ren·cy Pronunciation: "yur-O-'k&r-&n-sE Function: noun Inflected Form: plural-cies : currency (as from the U.S. and Japan) held outside its country of origin and used in the money markets of Europe
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