Eurocurrency deposit

(redirected from Euro-Currency Deposit)

Eurocurrency deposit

A short-term fixed-rate time deposit denominated in a currency other than the local currency (e.g., U.S. dollars deposited in a London bank).

Eurocurrency Deposit

A short-term certificate of deposit with a fixed interest rate made in a currency outside the jurisdiction of the issuing central bank. For example, one may purchase a CD in U.S. dollars and deposit it in a bank in Great Britain. Eurocurrency deposits help persons and businesses hedge against short-term fluctuations in exchange rates.