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    What is Eurocurrency?

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    Please give some descriptions of Eurocurrency and gives relevant references.

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    What is Eurocurrency?

    1. Certificates of Deposit (CDS), bonds, deposits, or any capital market instrument issued outside of the national boundaries of the currency in which the instrument is denominated (for example, Euro-Swiss francs, Euro-Deutsche marks, eurodollars, eurodollar bonds, or eurodollar CDS).
    2. A currency deposited in a bank located in a country other than the country issuing the currency.
    3. Currency that is owned by people not being a national of the nation that issued the currency
    4. Created when a banking office in one country accepts a deposit ( or other evidence of debt) denominated in the currency of another. When the deposit is denominated in U.S. dollars, it is a Eurodollar ...

    Solution Summary

    The solution defines what is Eurocurrency.