Eurocurrency refers to a currency that is deposited in a bank outside of its country of origin, typically in Europe. However, there are several other terms used as synonyms for this concept. One of the most commonly used is "offshore currency," which refers to any currency that is deposited in a bank located outside of the depositor's home country. Another similar term is "external currency," which refers to any currency that is outside of a country's domestic currency system. Other synonyms include "non-resident currency," "foreign currency," and "parallel currency." Regardless of the term used, the concept of Eurocurrency refers to funds that are held outside of a country's borders and are subject to different regulations and taxation rules.