EUROCURRENCY Definition

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EUROCURRENCY is currency held by banks, corporations or individuals outside its country of origin: e.g. eurodollar, eurosterling, etc. The euro part of the name derives from the place where the first market in such currencies (normally dollars) arose.

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IDB is Industrial Development Board.

SUBORDINATED DEBENTURE, in securities, is a debt issue whose claim on assets is subordinated to that of general creditors in the event of a liquidation, as stated in the bond indenture.

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