The forex market is the market where foreign money-- e.g., the yen or euro or extra pound-- is traded for domestic currency-- e.g., the United States dollar. Another effort was made in 1965 with the Voluntary Debt Restriction Program which controlled lending to United States multinationals for international investments. These new US regulations produced the requirement for an unregulated market in dollars outside the United States. These occasions resulted in the development of the Eurodollar market and Eurodollar trading. Eurodollars are US dollars kept in non-US banks outside the USA.