👉 Eurodollars is a currency that is used in European Union member states. It is pegged to the U.S. dollar and can fluctuate based on market conditions. The value of a euro is determined by its exchange rate with other currencies, such as the British pound or Japanese yen. Earnings from trade with other countries are also considered part of the calculation of currency values in Europe.
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What is the definition of Eurodollar? 🙋
👉 The term "eurodollar" is a term used in finance and economics. It refers to the interest rate on U.S. Treasury bills issued by the Federal Reserve Bank of New York (FEDRBNY) that are issued at a fixed rate, typically around 0.125% per annum or about 3.75% per year. The term is also used in relation to the euro currency and its exchange rates with other currencies such as the U.S.
