Eurodollars, American dollars circulated outside the United States and serving the needs of state and private organisations as international liquid assets. Appeared originally in Europe; hence their name. The bulk of Eurodollars exists in the form of accounts in credit establishments. Transactions in Eurodollars are usually cash-free. The field of operation with Eurodollars, the Eurodollar market, was evolved in the second half of the 1950s as a result of certain processes in the world capitalist economy, including the accumulation of 126 dollar resources abroad, the key role the dollar began to play in international payments, the introduction of mutually convertible currencies in the second half of the 1950s, increasingly liberal conditions for foreign trade and the export of capital, the growing power of the international and national monopolies, which seek unhindered access to credit sources, etc. In the 1970s, the development of the Eurodollar market received a fresh impetus from the sharply increased currency surplus— petrodollars of certain developing oil-producing countries, deposited with West European banks. As distinct from the national money markets and loan capital markets, the Eurodollar market is not subject to regulation by governments or international bodies. This, as well as the ease with which considerable credit can be obtained, enhances the monopolies’ interest in transactions on the Eurodollar market. It is also a profitable field of activity for creditors. Apart from Eurodollars, this type of transaction is carried out, though on a lesser scale, in the currencies of other capitalist countries (West German marks, which thus become Euromarks, British pounds sterling—- Eurosterling, etc.). These currencies are often referred to as Euromoney or Eurocurrencies. Besides Europe, which remains the chief centre of attraction for currencies that have, from the legal point of view, split away from their national ground, other regions of the capitalist world such as the market for Asian dollars, etc. are at present the market for them. The market for Eurodollars and other similar currencies plays a contradictory part in the economies of the capitalist countries. It meets the need for the reproduction of liquid assets and extends the boundaries of crediting but, at the same time, it exacerbates the contradictions of the capitalist system. On the market of Eurodollars, monopolies circumvent administrative measures aimed at holding credit within national boundaries. The use of Eurodollars contributes directly to inflation and currency differences in the world capitalist economy.