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Eurodollar

Eurodollar Definition

Eurodollar is a deposit denominated in U.S. dollars at banks outside the United States.

Originally, dollar-denominated deposits were held almost exclusively in Europe, thus the term  referred to U.S. dollars in European banks. Nowadays they are also held in other countries like  Bahamas, the Cayman Islands, Hong Kong, Panama, and Singapore. A U.S. dollar-denominated deposit in Japan is also referred to as eurodollars.

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