Eurocurrencies are units of currency deposited in banks outside of the country issuing the currencies.

Name: Eurocurrencies are units of currency deposited in banks outside of the country issuing the currencies.
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Eurocurrencies are indeed units of currency deposited in banks outside of the country issuing the currencies. Examples of eurocurrencies include euros held in a bank in the United States or Japanese yen held in a bank in Switzerland.

Eurocurrencies Are Units of Currency Deposited in Banks Outside of the Country