Accounts in domestic banks that are maintained and paid in a foreign currency are generally known as ________.

Question

Quizplus · Accepted Answer

Accounts maintained and paid in a foreign currency are known as Eurocurrency deposits. Checking accounts and recurring deposits are types of accounts that can hold Eurocurrency deposits, but they are not the specific name for these types of accounts. Asset accounts can hold various types of assets, but this term does not specifically refer to accounts maintained and paid in a foreign currency.

Accounts in Domestic Banks That Are Maintained and Paid in a Foreign