The depository receipts denominated in US dollars are known as ______________.

Global Depository Receipts

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American Depository Receipts

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Foreign Currency Convertible Bonds

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None of the above

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Solution

The correct option is A Global Depository Receipts
The local currency shares of a company are delivered to the depository bank. The depository bank issues depository receipts against these shares. Such depository receipts denominated in US dollars are known as Global Depository Receipts.

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A Global Depository Receipt is a bank certificate that is basically issued in more than one country for shares in a foreign company.

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