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The Eurodollar isn't the currency used in many countries of Europe known as the Euro, but is a U.S. dollar that
has been deposited outside of the United States of America, especially into banks in Europe.
Foreign banks that hold eurodollars are obligated to pay in U.S. dollar when the deposites are withdrawn. Most
Eurodollars are used to finance trade, but many central banks also operate in the Eurodollar market.
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