UK Accounting Glossary
Xenocurrency refers to a currency that is traded or circulated in a country other than its native country, the country issuing the currency. The prefix “Xeno” actually means “foreign” or “strange,” so Xenocurrency literally means “foreign currency.” An example of Xenocurrency would be the Chinese Yuan when it is traded outside of China – perhaps in the United States. When Xenocurrency is deposited in a bank outside its domestic country, especially if it is deposited in a European country, then the Xenocurrency may be referred to as euro currency; this does not require that the Xenocurrency involve European countries. This form of Xenocurrency originally referred to non-European deposits held in European banks, but is now used in a more generic sense.
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This glossary post was last updated: 4th February 2020.