___________are funds denominated in Canadian dollars and deposited in banks located outsideCanada.

Question

Quizplus · Accepted Answer

Eurodollar deposits are funds denominated in U.S. dollars but deposited outside of the USA. However, the concept is the same for funds denominated in Canadian dollars and deposited outside of Canada. These deposits are commonly used by multinational corporations and international banks as a way to earn higher interest rates in a stable foreign currency. Money market mutual funds, negotiable certificates of deposit, and banker's acceptances are all financial instruments that can be denominated in various currencies, but they do not necessarily involve depositing funds outside of their home country.

___________Are Funds Denominated in Canadian Dollars and Deposited in Banks