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n. pl. Eu·ro·cur·ren·cies
Funds deposited in a bank when those funds are denominated in a currency differing from the bank's own domestic currency.
(Banking & Finance) (sometimes capital)
a. the currency of any country held on deposit in Europe outside its home market: used as a source of short- or medium-term finance, esp in international trade, because of easy convertibility
b. (as modifier): the eurocurrency market.
Eu•ro•cur•ren•cy(ˈyʊər oʊˌkɜr ən si, -ˌkʌr-, ˈyɜr-)
n., pl. -cies.
funds, esp. U.S. funds, deposited in a European bank and payable in the currency of that country.
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|Noun||1.||Eurocurrency - currency of the major financial and industrial countries held in those countries for the purpose of lending and borrowing|
currency - the metal or paper medium of exchange that is presently used
Eurodollar - a United States dollar deposited in a European bank and used as an international currency to finance trade