Euro-currencies

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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
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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.