Question

What are Euro Markets? Explain the reasons for development of Euro Dollar Market.

Answer 1

Explanation:

The eurocurrency market originated in the aftermath of World War II when the Marshall Plan to rebuild Europe sent a flood of dollars overseas. ... The eurocurrency market has expanded to include other currencies such as the yen and the British pound whenever they trade outside of their home market.

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Answer 2

Answer:

The Eurocurrency market began to develop in the 1950s, when the Eastern Bloc countries were afraid the United States might seize their holdings of dollars. It means that instead of depositing their dollars in the United States, they deposited them in Europe.