still studying

i am reading 'Financial markets and institutions'. It talks about eurocurrency markets and states it involve the depositing of funds with a bank outside the country of the currency in which the funds are denominated and re-lending these funds for a fairly short term, typically three months.

Because of the word 'euro', i just need to confirm it is for euro countries only or for foreign countries.

Thanks

ADBot

eriakmoos

Eurocurrency is the term used to describe deposits residing in banks that are located outside the borders of the country that issues the currency the deposit is denominated in.