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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SALES ALLOWANCE is an offer of a lower price as an inducement to the buyer to accept delivery under special circumstances, e.g. when the merchandise delivered is not exactly what was ordered.

YEN is the currency of Japan. Its subdivisions are 100 sen and 1000 rin.

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