noun \ˈyr-ō-ˌdä-lər\

Definition of EURODOLLAR

:  a United States dollar held as Eurocurrency

First Known Use of EURODOLLAR



noun    (Concise Encyclopedia)

U.S. dollar that has been deposited outside the U.S., especially in Europe. Foreign banks holding Eurodollars are obligated to pay in U.S. dollars when the deposits are withdrawn. Most Eurodollars are used to finance trade, but many central banks also operate in the Eurodollar market. See also currency, foreign exchange.


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