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Home Q & A Board Other Fields Homework Help Business Management
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ejoignez ejoignez
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7 years ago
In a short essay, explain the difference between Eurodollars and Eurocurrency. Why is the Eurocurrency market attractive to firms?
Textbook 
International Business: Strategy, Management, and the New Realities

International Business: Strategy, Management, and the New Realities


Edition: 1st
Authors:
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JewelSmithJewelSmith
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7 years ago
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7 years ago
The term Eurodollar refers to U.S. dollar-denominated deposits at foreign banks or foreign branches of American banks. USD denominated dollar deposits maintained with non-American banks or foreign branches of American banks, situated outside the US, are called Eurodollar deposits. They were mostly held in Europe, giving that deposit such connotation. But deposits held in other locations, other than Europe were also called by that name.
Eurocurrency is deposited in banks that are located outside the borders of the country that issue the currency the deposit is denominated in. For example, a deposit denominated in Japanese Yen held in a Brazilian bank is a Eurocurrency deposit. Likewise, a deposit denominated in US dollars held in a Singapore bank is a Eurocurrency deposit, or more specifically or more clearly a Eurodollar deposit.
ejoignez Author
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#3
7 years ago
Thanks, JewelSmith
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#4
7 years ago
Excellent stuff, will be around if you need moi Slight Smile
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