For example, in this image, what does 99.4600 mean? I know the current EURUSD rate is about 1.38, so does it mean 99.4600*1.38 on Dec 2011? Any ideas?

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1 Answer 1


Contrary to what the name implies, Eurodollars are simply US dollars deposited in a bank outside of the United States. The most common Eurodollar rates are for European banks and Asian banks. The futures contract you are referring to is a contract's yield for 1 million dollars of US currency. So 99.4600 means that the yield for 1,000,000 USD deposited in a european bank deliverable in December 2011 is .54% . If you are still confused you should look up how interest bearing securities are priced and traded.

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