A structured product that involves two different currencies. It allows a depositor to capitalize on the relative differences in two currencies. A bank customer can make a deposit in a given currency, while enjoying the flexibility to withdraw from the balance in a different currency if switching between the two currencies is beneficial to the depositor. This product combines a deposit (a money market deposit) and a currency option.

A depositor receives a better interest rate than a standard deposit. Depending on the exchange rate at maturity, the depositor redeems the notional amount and coupon in the
base currency or in the alternative currency. Typically, dual currency deposits are subject to specific provisions including size (minimum amount) and maturity (ranging from 7 days to 12 months).

It is known for short as DCD.