4.	Euro Deposits

Euro principal deposits are held in a euro-denominated, interest-bearing demand account. The interest rate in effect as of July 31, 2018 was an annual nominal rate of -0.40%. For the nine months ended July 31, 2018, there were euro principal deposits of 409,014,266, euro principal redemptions of 514,911,692 and euro withdrawals (to pay expenses) of 1,661,536, resulting in an ending euro principal balance of 230,303,986. This equates to 269,467,283 USD (which includes USD subscriptions receivable). For the year ended October 31, 2017, there were euro principal deposits of 997,328,606, euro principal redemptions of 900,863,979 and euro withdrawals (to pay expenses) of 1,901,235, resulting in an ending euro principal balance of 337,862,948. This equates to 393,593,414 USD (which includes USD subscriptions receivable).

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.