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Definition of 'Dual Currency Deposit'
A fixed deposit with variable terms for the currency of payment. Deposits are made in one currency, but withdrawals at maturity occur either in the currency of the initial deposit or in another agreed upon currency.
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Investopedia explains 'Dual Currency Deposit'
This is a deposit that creates a foreign exchange rate risk for the investor. Similar to a currency swap, you can be rewarded or punished for the risk taken.
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Search results for 'Dual Currency Deposit'
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http://www.investopedia.com/exam-guide/series-7/customer-accounts/costs-and-fees.asp
... This dual fee structure varies by manager as a function of the complexity
of their strategy and the types of assets that they manage. ...
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