Eurodollar


Eu·ro·dol·lar

noun \ˈyr-ō-ˌdä-lər\

Definition of EURODOLLAR

:  a United States dollar held as Eurocurrency

First Known Use of EURODOLLAR

1960

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 Foreign banks holding Eurodollars are obligated to pay in U.S. dollars when the deposits are withdrawn.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.

Browse

Next Word in the Dictionary: Euromarket
Previous Word in the Dictionary: Eurocurrency
All Words Near: Eurodollar

Seen & Heard

What made you want to look up Eurodollar? Please tell us where you read or heard it (including the quote, if possible).