Deposits in European banks denominated in dollars for the purpose of international transactions are known as

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Eurodollars refer to deposits made in European banks that are denominated in US dollars and are primarily used in international transactions. The term "Euro" in Eurodollars does not refer to the Euro currency, but rather to the fact that these deposits are held in European banks. European Currency Units (ECUs) and European Monetary Units (EMUs) are different forms of European currencies and are not specific to US dollar deposits in European banks. International Monetary Units is not a term commonly used in finance.

Deposits in European Banks Denominated in Dollars for the Purpose