Eurocurrency: Eurocurrency is any major currency that is deposited by a national government or corporation based outside the country where the bank receiving the funds is located. For example, Japanese yen deposited in a British bank by a Japanese car manufacturer is considered eurocurrency. Eurocurrency is used in international trade and to make international loans.

 

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Eurocurrency: Eurocurrency is any major currency that is deposited by a national government or corporation based outside the country where the bank receiving the funds is located. For example, Japanese ye . . . View Full Definition

Eurocurrency Deposit: Instrument issued outside your country, but denominated in your currency. A Eurodollar is a Certificate of Deposit in U.S. dollars in some other country (though mainly traded in London). A E . . . View Full Definition

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

Paris Interbank Offer Rate (PIBOR): The deposit rate on interbank transactions in the Eurocurrency market quoted in Paris.