When a Japanese company deposits 1 million yen in a Canadian bank, the yen deposit is:

Question

Quizplus · Accepted Answer

The term "Euroyen" refers to Japanese yen deposited in a bank outside of Japan, but in a city that uses the Eurocurrency market, which includes cities such as London, Frankfurt, and Zurich. As the question states that the deposit is made in a Canadian bank, it cannot be called Canayen, Japandollar, or Dollaryen. Therefore, the correct answer is Euroyen.

When a Japanese Company Deposits 1 Million Yen in a Canadian