Last Updated on: 1st October 2020, 11:21 am
Eurodollars are U.S. dollars deposited in banks outside the United States. They can’t be found in demand deposits and they can’t be created as the bank’s liabilities by offering loans.
These eurodollar deposits are transferred electronically from a bank located within the United States and are kept abroad in the form of dollars.
In general, “eurocurrencies” are time deposits in banks outside of the countries that have issued these currencies.
There is the europound, euroyen, and even euroeruo.
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