Updated: Aug 20, 2021

A generic term for bank balances within Europe stated in a particular currency but held outside the country of which the particular currency is the monetary unit, e.g. Euro-Dollars. euro-sterling, euro-deutschmarks, euroyen. Until recently, euro-dollars were the most prominent euro-currency, but strengths of other currencies and instability of the dollar have led to greater demand for other euro-currencies. One of their attractions is that they are subject to far fewer rules and regulations than currencies in domestic markets are, so a company may find it both easier and less costly to float a loan in some euro-currency than in the currency of the country in which it is resident.

Reference: The Penguin Business Dictionary, 3rd edt.

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James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.