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InvestHub.com's
Finance Dictionary and Glossary of Investment Terms

Eurocurrency  

Definition 1.

Currency deposited by companies and federal governments in banks outside their own country, usually currency of a non-European country deposited in Europe.
 

Definition 2.

When a country's official currency is out of its own formal control.
 

Definition 3.

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 Euroyen is a CD in yen outside Japan.
 
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