In finance, a dual currency deposit (DCD, also known as Dual Currency Instrument) is a derivative instrument which combines a money market deposit with a currency option to provide a higher yield than that available for a standard deposit. There is a higher risk than with the latter - the depositor can receive less funds than originally deposited and in a different currency. So one could do a USD/JPY DCD depositing USD and receive JPY.
Read more about Dual Currency Deposit: Formal Definition
Famous quotes containing the words dual, currency and/or deposit:
“Thee for my recitative,
Thee in the driving storm even as now, the snow, the winter-day
declining,
Thee in thy panoply, thy measur’d dual throbbing and thy beat
convulsive,
Thy black cylindric body, golden brass and silvery steel,”
—Walt Whitman (1819–1892)
“One of the reforms to be carried out during the incoming administration is a change in our monetary and banking laws, so as to secure greater elasticity in the forms of currency available for trade and to prevent the limitations of law from operating to increase the embarrassment of a financial panic.”
—William Howard Taft (1857–1930)
“A real life, a life that leaves a deposit in the shape of something alive.... It’s difficult to say what makes a life a real life.... You could also say it depends on a person being identical with himself.”
—Max Frisch (1911–1991)