The market consisting of all the world's currencies that are banked outside their countries of origin is called the ________.

Question

Quizplus · Accepted Answer

The Eurocurrency market is a market in which non-domestic currencies are deposited outside of their country of origin, and it is specifically referred to as the market of all the world's currencies that are banked outside their countries of origin. Option A is incorrect because while the foreign exchange market is a market in which currencies are exchanged, it does not specifically refer to currencies banked outside of their countries of origin. Option B refers to a market where banks trade with one another, and while it may include currency trading, it is not specifically focused on currencies banked outside of their countries of origin. Option D refers to a geographic location, such as the Cayman Islands, where financial institutions operate with fewer regulations and restrictions than they would in their home countries. While this may include Eurocurrency activity, it is not specific to it.

The Market Consisting of All the World's Currencies That Are