Common
Eurodollar
U.S. dollars held in banks outside the U.S.
Eurodollar
Eurodollars is a financial term used to describe certain U.S. dollar-denominated deposit liabilities (primarily but not exclusively time deposits) held at banks or their branches outside the United States. The name existed before the creation of the euro currency of the European Union and has no connection with it. The term originated with U.S. dollar deposits held in European banks. The term has expanded to include U.S. dollar-denominated deposits held at banks anywhere outside the United States. A deposit in a financial centre such as Dubai or Singapore, for example, is likewise considered a Eurodollar, though deposits held in certain Asian financial centres are also sometimes called Asiadollars. More generally, the euro- prefix can be used to indicate any currency held in a country where it is not the official currency, broadly termed "eurocurrency", for example, Euroyen or even Euroeuro. They are financially important because they are outside the control of the US government...
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