Question

A eurocurrency is:

Select one: a. a bank deposit in a non-European currency held in Europe.

b. the currency of European Economic and Monetary Union - called the 'euro' for short

. c. a bank deposit in a European currency held outside of Europe.

d. a bank deposit held in a country that does not issue that currency in which the deposit is denominated.

e. the currency of the European Union.

Answer 1

A eurocurrency is a bank deposit held in a country that does not issue that currency in which the deposit is denominated.

Correct answer is d.

option a is not write because Eurocurrency is currency held on deposit outside its home market, not related to Europe or European currency.

option b is not write because Euro-currency is not the currency of European Economic and Monetary Union.

option c is not write becase definition of Eurocurrency because Eurocurrency is currency held on deposit outside its home market not necessary to European market.

option e is not write becasue Euro-currency is not a currency of European union.