3.	Euro Deposits

Euro principal deposits are held in a euro-denominated, interest-bearing demand account. The interest rate in effect as of April 30, 2017 was an annual nominal rate of -0.40%. For the six months ended April 30, 2017, there were euro principal deposits of 426,928,799, euro principal redemptions of 388,336,482 and euro withdrawals (to pay expenses) of 800,087, resulting in an ending euro principal balance of 281,091,786. This equates to 306,094,837 USD (which includes USD subscriptions receivable). For the year ended October 31, 2016, there were euro principal deposits of 1,080,489,764, euro principal redemptions of 1,158,683,985 and euro withdrawals (to pay expenses) of 2,026,744, resulting in an ending euro principal balance of 243,299,556. This equates to 266,705,058 USD.

Net interest, if any, associated with creation and redemption activity is held in a euro-denominated non-interest-bearing account, and any balance is distributed in full as part of the monthly income distributions, if any.