Industry WIKI

In public finance, a currency board is a mechanism by which a monetary authority is required to maintain a fixed exchange rate with a foreign currency by fully backing the commitment with foreign holdings, or reserves. This policy objective requires the conventional objectives of a central bank to be subordinated to the exchange rate target.

Eurodollars is a financial term used to describe certain U.S. dollar-denominated deposit liabilities (primarily but not exclusively time deposits) held at banks or their branches outside the United States.