(1) Technically, a Eurocurrency is a deposit claim on the domestic banks of the country whose currency is used to denominate the claim, deposited in a bank located outside the country-including foreign branches of the currency-issuing country's domestic banks. (2) Dollars, D-marks, yen, pounds, or any other currency deposit or instrument which is outside the formal control of the issuing country's monetary authorities.
A country's currency on deposit outside the country. Most Eurocurrency claims are Eurodollars, which are dollar claims on banks located outside the United States. The Eurocurrency market is a wholesale market.
Currency deposited by companies and federal governments in banks outside their own country, usually currency of a non-European country deposited in Europe. see also Eurocommercial paper, Eurocredit, Euroyen.
Instrument issued outside your country, but denominated in your currency. A Eurodollar is a Certificate of Deposit in US dollars in some other country (though mainly traded in London). A Euroyen is a CD in yen outside Japan.
Currency held by banks, corporations or individuals outside its country of origin: eg eurodollar, eurosterling, etc. The euro part of the name derives from the place where the first market in such currencies (normally dollars) arose.
Money--also called "Euromoney"--deposited by corporations and governments in banks not located in their home countries. These banks are called "Eurobanks." The currencies or the banks are not necessarily European. For example, dollars deposited in a Japanese bank are considered to be Eurocurrency. See: Eurodollar
A currency borrowed or deposited outside the country of origin or the home country. A US Dollar deposit outside the US is called a Eurodollar deposit while sterling deposit held outside UK would be Eurosterling deposit. Eurocurrency is different from the Euro, the common currency of the Eurozone and the latest currency in the international foreign exchange markets.
Certificates of Deposit (CDs), bonds, deposits, or any capital market instrument issued outside of the national boundaries of the currency in which the instrument is denominated (for example, Eurodollars, Euro-Swiss francs, or Euroyen).
CDs, bonds, deposits, or any capital market instrument issued outside of the national boundaries of the currency in which the instrument is denominated, i.e., Euro-Swiss francs, Euro-Deutsche marks. See Also Eurodollars, Eurodollar Bonds, Eurodollar CD.
See on: Wikipedia Investopedia Currency deposited by national governments or corporations in banks outside their home market. These banks are called "Eurobanks". This applies to any currency and to banks in any country. For example, South Korean won deposited at a bank in South Africa, is considered Eurocurrency. Also known as "Euromoney".
Eurocurrency is the term used to describe deposits residing in banks that are located outside the borders of the country that issues the currency the deposit is denominated in. For example a deposit denominated in US dollars residing in a Japanese bank is a Eurocurrency deposit, or more specifically a Eurodollar deposit.