Eurocurrency deposit(redirected from Euro-Currency Deposits)
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).
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved