Dual Currency Deposit

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Dual Currency Deposit

A deposit made at a financial institution in one currency in which withdrawals could be made either in the first currency or another one, selected by the depositor and the institution. It is important to note that a dual currency deposit creates a foreign exchange risk for the depositor. See also: Currency swap.
References in periodicals archive ?
Those who are indifferent to currencies can play the volatility in markets through dual currency deposits that have a higher yield than ordinary deposits, but which carry the risk of some capital loss, he added.