eurodólar
Lemma: eurodólar
Translation: eurodollar (noun)
Etymology: The term 'eurodólar' comes from combining 'euro' (referring to Europe) and 'dólar' (dollar). It refers to US dollar deposits held in banks outside the United States, originally in European banks (hence the 'euro' prefix), but now worldwide. The concept emerged in the 1950s during the Cold War when Soviet banks wanted to hold dollars but feared they might be frozen by US authorities, so they deposited them in European banks instead.
Example Usage
Los eurodólares son depósitos en dólares estadounidenses mantenidos en bancos fuera de Estados Unidos.
Eurodollars are US dollar deposits held in banks outside the United States.
El mercado de eurodólares ha crecido significativamente desde su creación en los años 50.
The eurodollar market has grown significantly since its creation in the 1950s.
Mnemonics
- Think of 'euro' (Europe) + 'dólar' (dollar) = US dollars deposited in European banks
- Picture a dollar bill with a European passport
Related Words, Phrases & Idioms
Synonyms
Cultural Context
The term is primarily used in international finance and banking contexts. While not part of everyday vocabulary for most Spanish speakers, it's common in financial news, especially when discussing international markets and currency exchanges.
Easily Confused With
Explanation: While 'eurodólar' refers to US dollars deposited in banks outside the US (particularly in Europe), 'euro' is the official currency of the European Union.
Confused word:
El euro es la moneda oficial de muchos países europeos.
The euro is the official currency of many European countries.
Notes: Despite both terms containing 'euro', they refer to completely different financial concepts.
Mnemonic: Eurodólar = dólares americanos viviendo en el extranjero; Euro = la moneda europea nativa