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.

Learn new Accounting Terms

ALLOWANCE FOR SAMPLING RISK is the difference between a sample estimate and the projected population characteristic at a specified sampling risk. This allowance
is also the difference between the expected error rate and the tolerable
deviation rate.

LETTER OF CREDIT, CONFIRMED is a letter of credit that is guaranteed by a bank that is acceptable to a seller (usually a local bank), regardless of buyers bank.

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