Euro Markets are unregulated Money and Capital markets. These markets are spread over Europe, Middle East and Asia. Short-term Euro markets are called as “Euro- currency Markets”. Any currency held outside to home country is referred to as Euro-currency. For example when a Dollar is held as a deposit outside the U.S. is referred to as Euro-Dollar, Similarly a deposit in Marks, outside Germany is called as a Euro-Mark deposit.
The Dollar was and still is widely used to settle the international payments. Although there is an increase in European Deposits, denominated in Euro, Pound sterling, Yen etc.,… Read the rest