A U.S. dollar deposited in a bank outside the United States, or the market for trading such offshore dollars.
Blend of 'Euro-' (originally denoting European location) + 'dollar'; emerged in the 1950s-60s as U.S. dollars accumulated in European banks after WWII and Cold War trade restrictions.
Eurodollars sparked an underground financial revolution—banks outside U.S. jurisdiction could lend dollars without Federal Reserve oversight, creating a shadow banking system that still influences global finance today and arguably contributed to the 2008 financial crisis.
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