UNITED STATES
               SECURITIES AND EXCHANGE COMMISSION
                       Washington, D.C. 20549

                            Form 10-Q

[X]      Quarterly report pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
For the period ended September 30, 1996 or

[ ]      Transition report pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
For the transition period from________________to_____________

Commission file number 33-55806          


                      DEAN WITTER WORLD CURRENCY FUND L.P.

         (Exact name of registrant as specified in its charter)


           Delaware                                     13-3700691
(State or other jurisdiction of                       (I.R.S. Employer
Incorporation or organization)                      Identification No.)


c/o Demeter Management Corp.
Two World Trade Center, New York, NY 62 Fl.                10048
(Address of principal executive offices)                 (Zip Code)

Registrant's telephone number, including area code (212) 392-5454 




(Former name, former address, and former fiscal year, if changed
since last report)


Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months (or
for such shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing requirements
for the past 90 days.

Yes     X                          No          


<PAGE>
<TABLE>

                                              WORLD CURRENCY FUND L.P.

                                       INDEX TO QUARTERLY REPORT ON FORM 10-Q

                                                 September 30, 1996
<CAPTION>

PART I. FINANCIAL INFORMATION
<S>                                                           <C>                                                  
Item 1. Financial Statements

         Statements of Financial Condition
         September 30, 1996 (Unaudited) and December 31, 1995.....2                                            

         Statements of Operations for the Quarters Ended
         September 30, 1996 and 1995 (Unaudited)..................3

         Statements of Operations for the Nine Months Ended
         September 30, 1996 and 1995 (Unaudited)..................4

         Statements of Changes in Partners' Capital for
         the Nine Months Ended September 30, 1996 and 1995
         (Unaudited)..............................................5                                            

         Statements of Cash Flows for the Nine Months Ended
         September 30, 1996 and 1995 (Unaudited)..................6

         Notes to Financial Statements..........................7-11

Item 2.       Management's Discussion and Analysis
              of Financial Condition and Results of 
              Operations........................................12-16

PART II. OTHER INFORMATION


Item 6. Exhibits and Reports on Form 8-K.....................      17

</TABLE>
<PAGE>
<TABLE>
                                        DEAN WITTER WORLD CURRENCY FUND L.P.
                                          STATEMENTS OF FINANCIAL CONDITION

<CAPTION>

                                                                     September 30,              December 31,
                                                                         1996                       1995     
                                                                           $                          $
                                                                      (Unaudited)
ASSETS
<S>                                                                      <C>                      <C>     
Equity in Commodity futures trading accounts:
   Cash                                                                 24,471,864                 31,916,332
   Net unrealized gain (loss) on open contracts                            744,805                   (634,569)
   Net option premium                                                      701,963                    195,738

   Total Trading Equity                                                 25,918,632                 31,477,501

   Interest receivable (DWR)                                                86,523                    113,878

   Total Assets                                                         26,005,155                 31,591,379


LIABILITIES AND PARTNERS' CAPITAL

Liabilities

   Redemptions payable                                                     611,041                    905,887
   Accrued management fees                                                  64,840                     78,670
   Accrued administrative expenses                                          32,086                     97,297
   Accrued brokerage commissions (DWR)                                      22,068                     12,384
   Accrued transaction fees and costs                                        1,475                        619

   Total Liabilities                                                       731,510                  1,094,857


Partners' Capital

   Limited Partners (39,232.941 and
    47,100.837 Units, respectively)                                     24,519,002                 29,734,237
   General Partner (1,207.506 Units)                                       754,643                    762,285

   Total Partners' Capital                                              25,273,645                 30,496,522

   Total Liabilities and Partners' Capital                              26,005,155                 31,591,379


NET ASSET VALUE PER UNIT                                                    624.96                     631.29

<FN>

                                   The accompanying footnotes are an integral part
                                           of these financial statements.

</TABLE>
<PAGE>
<TABLE>
                                        DEAN WITTER WORLD CURRENCY FUND L.P.
                                              STATEMENTS OF OPERATIONS
(Unaudited)

<CAPTION>

                                                                    For the Quarters Ended September 30,    

                                                                       1996                    1995      
                                                                         $                       $
REVENUES
<S>                                                               <C>                        <C>      
   Trading profit (loss):
         Realized                                                  (1,554,004)                4,249,731 
         Net change in unrealized                                    (404,463)                 (730,718)

           Total Trading Results                                   (1,958,467)                3,519,013 

   Interest Income (DWR)                                              280,212                   452,993 

           Total Revenues                                          (1,678,255)                3,972,006 


EXPENSES

   Management fees                                                    203,371                   295,322 
   Brokerage commissions (DWR)                                        370,651                   273,625 
   Transaction fees and costs                                          23,161                    17,707 
   Administrative expenses                                             18,388                    26,845 
                                                                                
           Total Expenses                                             615,571                   613,499 

NET INCOME (LOSS)                                                  (2,293,826)                3,358,507 


NET INCOME (LOSS) ALLOCATION

   Limited Partners                                                (2,228,766)                3,296,648 
   General Partner                                                    (65,060)                   61,859 

                                                                                                        
NET INCOME (LOSS) PER UNIT

   Limited Partners                                                    (53.88)                    51.23 
   General Partner                                                     (53.88)                    51.23 

<FN>

                                   The accompanying footnotes are an integral part
                                           of these financial statements.
</TABLE>
<PAGE>
<TABLE> 

                                        DEAN WITTER WORLD CURRENCY FUND L.P.
                                              STATEMENTS OF OPERATIONS
                                                 (Unaudited)


<CAPTION>

                                                                  For the Nine Months Ended September 30,     

                                                                       1996                    1995      
                                                                         $                       $
REVENUES
<S>                                                                 <C>                     <C>       
   Trading profit (loss):
         Realized                                                    (591,347)                3,097,394  
         Net change in unrealized                                   1,379,374                 1,444,942 

           Total Trading Results                                      788,027                 4,542,336 

   Interest Income (DWR)                                              885,144                 1,461,897 

           Total Revenues                                           1,673,171                 6,004,233 


EXPENSES

   Brokerage commissions (DWR)                                        959,031                 1,536,338 
   Management fees                                                    665,736                   978,018  
   Transaction fees and costs                                          59,868                   257,746  
   Administrative expenses                                             57,218                    80,711 
                                                                                
           Total Expenses                                           1,741,853                 2,852,813 

NET INCOME (LOSS)                                                     (68,682)                3,151,420 


NET INCOME (LOSS) ALLOCATION                                                                            

   Limited Partners                                                   (61,040)                3,095,979 
   General Partner                                                     (7,642)                   55,441 
                                                                                

NET INCOME (LOSS) PER UNIT 

   Limited Partners                                                     (6.33)                    45.91       
   General Partner                                                      (6.33)                    45.91       


<FN>

                                   The accompanying footnotes are an integral part
                                           of these financial statements.

</TABLE>
<PAGE>
<TABLE> 

                                        DEAN WITTER WORLD CURRENCY FUND L.P.
                                     STATEMENTS OF CHANGES IN PARTNERS' CAPITAL
                                For the Nine Months Ended September 30, 1996 and 1995
                                                     (Unaudited)


<CAPTION>


                                                 Units of
                                                Partnership         Limited           General
                                                 Interest          Partners           Partner           Total
<S>                                             <C>                <C>                <C>            <C>       
Partners' Capital
  December 31, 1994                             76,563.617         $46,629,315        $747,188       $47,376,503 

Net Income                                               -           3,095,979          55,441         3,151,420 

Redemptions                                    (25,339.838)        (16,479,484)              -       (16,479,484)

Partners' Capital
  September 30, 1995                            51,223.779         $33,245,810        $802,629       $34,048,439 




Partners' Capital
  December 31, 1995                             48,308.343         $29,734,237         $762,285      $30,496,522 

Net Loss                                                 -             (61,040)         (7,642)          (68,682)

Redemptions                                     (7,867.916)         (5,154,195)              -        (5,154,195)

Partners' Capital
  September 30, 1996                            40,440.447         $24,519,002        $754,643       $25,273,645 



<FN>


                                 The accompanying footnotes are an integral part
                                           of these financial statements.
</TABLE>
<PAGE>
<TABLE>
                                          DEAN WITTER WORLD CURRENCY FUND 
                                              STATEMENTS OF CASH FLOWS
                                                    (Unaudited)


<CAPTION>
                                                                  For the Nine Months Ended September 30,     

                                                                       1996                    1995      
                                                                         $                       $
CASH FLOWS FROM OPERATING ACTIVITIES
<S>                                                                  <C>                     <C>     
   Net income (loss)                                                 (68,682)                 3,151,420  
   Noncash item included in net income (loss):
         Net change in unrealized                                 (1,379,374)                (1,444,942)

   (Increase) decrease in operating assets:
         Interest receivable (DWR)                                    27,355                    (60,680)
         Net option premiums                                        (506,225)                   692,662 
         Receivable from DWR                                              -                     200,640 
            
   Increase (decrease) in operating liabilities:
         Accrued management fees                                      (13,830)                  (37,379)
         Accrued administrative expenses                              (65,211)                    5,186 
         Accrued brokerage commissions (DWR)                            9,684                     7,020 
         Accrued transaction fees and costs                               856                       351 

   Net cash provided by (used for) operating activities            (1,995,427)                2,514,278 


CASH FLOWS FROM FINANCING ACTIVITIES

   Decrease in redemptions payable                                    (294,846)              (1,586,471)
   Redemptions of units                                             (5,154,195)             (16,479,484)
    
Net cash used for financing activities                              (5,449,041)             (18,065,955)


Net decrease in cash                                                (7,444,468)             (15,551,677)

Balance at beginning of period                                      31,916,332               50,685,551 

Balance at end of period                                            24,471,864               35,133,874 


<FN>


                                   The accompanying footnotes are an integral part
                                           of these financial statements.
</TABLE>
<PAGE>
 
               DEAN WITTER WORLD CURRENCY FUND L.P.
                   NOTES TO FINANCIAL STATEMENTS
                        (UNAUDITED)
The financial statements include, in the opinion of management, all
adjustments necessary for a fair presentation of the results of
operations and financial condition.  The financial statements and
condensed notes herein should be read in conjunction with the
Partnership's December 31, 1995 Annual Report on Form 10-K.

1. Organization
Dean Witter World Currency Fund L.P. (the "Partnership") is a
limited partnership organized to engage in the speculative trading
of commodity futures contracts, commodity options contracts and
forward contracts on foreign currencies.  The general partner for
the Partnership is Demeter Management Corporation (the "General
Partner").  The commodity broker is Dean Witter Reynolds Inc.
("DWR").  Through May 31, 1995 the General Partner retained CCA
Capital Management Inc., Ezra Zask Associates Inc., and Millburn
Ridgefield Corporation ("Millburn") as the trading advisors of the
Partnership.  Effective June 1, 1995, the trading advisors for the
Partnership are John W. Henry & Company Inc. and Millburn.  Both
the General Partner and DWR are wholly owned subsidiaries of Dean
Witter, Discover & Co.

2.  Summary of Significant Accounting Policies
Effective September 1, 1996, maximum total brokerage commissions
and transaction fees chargeable to the  Partnership are capped at
 .65% per month of adjusted Net Assets as defined in the Limited
Partnership Agreement.
<PAGE>
               DEAN WITTER WORLD CURRENCY FUND L.P.
           NOTES TO FINANCIAL STATEMENTS (CONTINUED)




3. Related Party Transactions
The Partnership's cash is on deposit with DWR in commodity trading
accounts to meet margin requirements as needed.  DWR pays interest
on these funds based on current 13-week U.S. Treasury Bill rates. 
Brokerage expenses incurred by the Partnership are paid to DWR. 

4.  Financial Instruments
The Partnership trades futures contracts, forward contracts,
options on futures contracts and related instruments in currencies. 
Futures and forwards represent contracts for delayed delivery of an
instrument at a specified date and price.  Risk arises from changes
in  the value  of  these contracts and the  potential  inability of
counterparties to perform under the terms of the contracts.  There
are numerous factors which may significantly influence the market
value of these contracts, including interest rate volatility.  At
September 30, 1996, open contracts were:

                                          Contract or
                                        Notional Amount
                                               $
Exchange-Traded Contracts
 Financial Futures:              
   Commitments to Purchase                  8,996,000
   Commitments to Sell                     52,658,000
Off-Exchange-Traded Forward
 Currency Contracts
   Commitments to Purchase                 97,328,000
   Commitments to Sell                    120,707,000



A portion of the amounts indicated as off-balance-sheet risk in
forward currency contracts is due to offsetting forward commitments
<PAGE>
                       DEAN WITTER WORLD CURRENCY FUND L.P.
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)



to purchase and to sell the same currency on the same date in the
future.  These commitments are economically offsetting, but are not
offset in the forward market until the settlement date.


The net unrealized gain on open contracts is reported as a
component of "Equity in Commodity futures trading accounts" on the
Statement of Financial Condition and totaled $744,805 at September
30, 1996.  Of this amount, $697,942 related to exchange-traded
futures contracts and $46,863 related to off-exchange-traded
forward currency contracts.


Exchange-traded futures contracts held by the Partnership at
September 30, 1996 mature through March 1997.  Off-exchange-traded
forward currency contracts held by the Partnership at September 30,
1996 matured through December 1996. The contract amounts in the
above table represent the Partnership's extent of involvement in
the particular class of financial instrument, but not the credit
risk associated with counterparty nonperformance.  The credit risk
associated with these instruments is limited to the amounts
reflected in the Partnership's Statements of Financial Condition.


The Partnership also has credit risk because DWR acts as the
futures commission merchant or the sole counterparty, with respect
to most of the Partnership's assets.  Exchange-traded futures and
option contracts are marked to market on a daily basis, with 
<PAGE>
                     DEAN WITTER WORLD CURRENCY FUND L.P.
                  NOTES TO FINANCIAL STATEMENTS (CONTINUED)



variations in value settled on a daily basis.  DWR, as the futures
commission merchant for all of the Partnership's exchange-traded
futures and options contracts, is required pursuant to regulations
of the Commodity Futures Trading Commission to segregate from its
own assets and for the sole benefit of its commodity customers all
funds held by DWR with respect to exchange-traded futures and
options contracts including an amount equal to the net unrealized
gain on all open futures contracts, which funds totaled $25,169,806
at September 30, 1996.  With respect to the Partnership's off-
exchange-traded forward currency contracts, there are no daily
settlements of variations in value nor is there any requirement
that an amount equal to the net unrealized gain on open forward
contracts be segregated.  With respect to those off-exchange-traded
forward currency contracts, the Partnership is at risk to the
ability of DWR, the counterparty on all such contracts, to perform.

For the nine months ended September 30, 1996, the average fair
value of financial instruments held for trading purposes was as
follows:
                                             Assets     Liabilities
                                               $             $

Exchange-Traded Contracts                            
  Financial Futures                        10,900,000   33,575,000
  Options on Financial Futures             32,152,000            -
Off-Exchange-Traded Forward
 Currency Contracts                       150,609,000  161,750,000


<PAGE>
                    DEAN WITTER WORLD CURRENCY FUND L.P.
                 NOTES TO FINANCIAL STATEMENTS (CONTINUED)




4.  Legal Matters
On September 6, 10, and 20, 1996, similar purported class actions
were filed in the Superior Court of the State of California, County
of Los Angeles, on behalf of all purchasers of interests in limited
partnership commodity pools sold by DWR.  Named defendants include
DWR, the General Partner, Dean Witter Futures and Currency
Management Inc., Dean Witter, Discover & Co. (all such parties
referred to hereafter as the "Dean Witter Parties"), the
Partnership, certain other limited partnership commodity pools of
which Demeter is the general partner, and certain trading advisors
to those pools.  Also, on September 18 and 20, 1996 similar
purported class actions were filed in the Supreme Court of the
State of New York, New York County, against the Dean Witter Parties
and certain trading advisors on behalf of all purchasers of
interests in various limited partnership commodity pools sold by
DWR.  Generally, these complaints allege, among other things, that
the defendants committed fraud, deceit, misrepresentation, breach
of fiduciary duty, fraudulent and unfair business practices, unjust
enrichment, and conversion in connection with the sale and
operation of the various limited partnership commodity pools.  The
complaints seek unspecified amounts of compensatory and punitive
damages and other relief.  It is possible that additional similar
actions may be filed and that, in the course of these actions,
other parties could be added as defendants.  The Dean Witter
Parties believe that they and the Partnership have strong defenses 
<PAGE>
                     DEAN WITTER WORLD CURRENCY FUND L.P.
                  NOTES TO FINANCIAL STATEMENTS (CONCLUDED)



to, and they will vigorously contest, the actions.  Although the
ultimate outcome of legal proceedings cannot be predicted with
certainty, it is the opinion of management of the Dean Witter
Parties that the resolution of the actions will not have a material
adverse effect on the financial condition or the results of
operations of any of the Dean Witter Parties or the Partnership. 
<PAGE>
Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
              CONDITION AND RESULTS OF OPERATIONS

Liquidity - The Partnership's assets are on deposit in separate
commodity interest trading accounts with DWR and are used by the
Partnership as margin to engage in commodity futures, forward
contracts on foreign currencies and other commodity interest
trading.  DWR holds such assets in either designated depositories
or in securities approved by the Commodity Futures Trading
Commission for investment of customer funds.  The Partnership's
assets held by DWR may be used as margin solely for the
Partnership's trading.  Since the Partnership's sole purpose is to
trade in commodity futures contracts, forward contracts on foreign
currencies and other commodity interests, it is expected that the
Partnership will continue to own such liquid assets for margin
purposes.

The Partnership's investment in commodity futures and forward
contracts and other commodity interests may be illiquid.  If the
price of the futures and options contract for a particular
commodity has increased or decreased by an amount equal to the
"daily limit", positions in the commodity can neither be taken nor
liquidated unless traders are willing to effect trades at or within
the limit.  Commodity futures prices have occasionally moved the
daily limit for several consecutive days with little or no trading. 
Such market conditions could prevent the Partnership from promptly
liquidating its commodity futures positions.
<PAGE>
There is no limitation on daily price moves in trading forward
contracts on foreign currencies.  The markets for some world
currencies have low trading volume and are illiquid, which may
prevent the Partnership from trading in potentially profitable
markets or prevent the Partnership from promptly liquidating
unfavorable positions in such markets subjecting it to substantial
losses.  Either of these market conditions could result in
restrictions on redemptions.


Capital Resources - The Partnership does not have, nor does it
expect to have, any capital assets.  Redemptions of additional
Units in the future will impact the amount of funds available for
investments in commodity futures and forward contracts and other
commodity interests.  As redemptions are at the discretion of
Limited Partners, it is not possible to estimate the amount and
therefore, the impact of future redemptions.

Results of Operations 
For the Quarter and Nine Months Ended September 30, 1996
For the quarter ended September 30, 1996, the Partnership's total
trading losses net of interest income were $1,678,255.  During the
third quarter, the Partnership posted a decrease in Net Asset Value
per Unit.  The most significant trading losses were recorded in
this currency-only fund from inconsistent movement in the value of
the Swiss franc between July and September.  Additional losses were
recorded during early August from previously established long
German mark positions as its value moved lower versus the U.S. 
<PAGE>
dollar.  Smaller losses were recorded from transactions involving
the Spanish peseta during July and September.  These losses were
offset by gains recorded during September from short Japanese yen
positions as its value moved steadily lower versus the U.S. dollar. 
Profits recorded from transactions involving the Italian lira
during July and August also helped to mitigate Partnership losses
for the quarter.  Total expenses for the quarter were $615,571,
resulting in a net loss of $2,293,826.  The value of an individual
Unit in the Partnership decreased from $678.84 at June 30, 1996 to
$624.96 at September 30, 1996.

For the nine months ended September 30, 1996, the Partnership's
total trading revenues including interest income were $1,673,171. 
During the first nine months, the Partnership posted a decrease in
Net Asset Value per Unit.  Trading gains during the first nine
months of the year were offset by brokerage commissions resulting
in net trading losses.  The most significant trading losses were
recorded in most major world currencies during February due to
sharp reversals and volatile price movement.  These losses were
partially offset by gains recorded from short Swiss franc positions
during January and throughout the second quarter as its value moved
lower versus the U.S. dollar.  Smaller losses in the third quarter
resulted primarily from trading in the Spanish peseta.  Gains
recorded from transactions involving the British pound during
January and May helped to offset Partnership losses during the
first nine months of the year.  Additional gains were recorded from
long Australian dollar positions, as its value moved higher
relative to other world currencies between late February and early 
<PAGE>
May.  Total expenses for the period were $1,741,853, resulting in
a net loss of $(68,682).  The value of an individual Unit in the
Partnership decreased from $631.29 at December 31, 1995 to $624.96
at September 30, 1996.
  
For the Quarter and Nine Months Ended September 30, 1995
For the quarter ended September 30, 1995, the Partnership's total
trading revenues including interest income were $3,972,006.  During
the third quarter, the Partnership posted an increase in Net Asset
Value per Unit.  The most significant trading gains were recorded
in this currency only fund from transactions involving the Japanese
yen.  As a result of a downward trend in the value of the Japanese
yen relative to the U.S. dollar between early July and mid-
September, the Partnership was able to record net profits for the
quarter.  Smaller gains were recorded from transactions involving
the Italian lira during September.  The Partnership recorded losses
as the downward trend in major European currencies, particularly in
the German mark and Swiss franc, which began in early August,
abruptly reversed in mid-September.  In addition, continued
choppiness in the value of the Spanish peseta, British pound,
Australian dollar and New Zealand dollar resulted in smaller losses
to the Partnership.  These losses offset a portion of the
Partnership's overall gains experienced during the quarter.  Total
expenses for the period were $613,499, resulting in a net income of
$3,358,507.  The value of an individual Unit in the Partnership
increased from $613.47 at June 30, 1995 to $664.70 at September 30,
1995.

<PAGE>
For the nine months ended September 30, 1995, the Partnership's
total trading revenues including interest income were $6,004,233. 
During the first three quarters of the year, the Partnership posted
an increase in Net Asset Value per Unit.  The most significant
trading gains were recorded during February, March and April as a
result of the increased value in world currencies versus the U.S.
and Canadian dollars.  The majority of the gains recorded in March
were from transactions involving the Japanese yen, German mark and
Swiss franc.  This upward trend in foreign currencies lost momentum
during May and June.  However, a declining trend in the Japanese
yen relative to the U.S. dollar occurred between July and September
resulting in gains for the Partnership's newly established short
yen positions.  The Partnership did experience losses in trading as
a result of a trendless, but volatile, environment in major world
currency values between May and September.  As a result, losses
were recorded from transactions involving the British pound and
Spanish peseta, as well as the Australian and New Zealand dollars. 
Additionally, a portion of the gains recorded earlier in the year
from transactions involving the German mark, Swiss franc and French
franc was given back due to the above-mentioned trend reversal and
volatility in the third quarter.  Together, these losses offset a
portion of the Partnership's overall gains experienced in the first
three quarters of the year.  Total expenses for the period were
$2,852,813, resulting in a net gain of $3,151,420.  The value of an
individual Unit in the Partnership increased from $618.79 at
December 31, 1994 to $664.70 at September 30, 1995.

<PAGE>
                      PART II. OTHER INFORMATION


Item 6. Exhibits and Reports on Form 8-K

                  A)       Exhibits. - None.

                  B)       Reports on Form 8-K. - None.


<PAGE>


                                                      SIGNATURE



Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.




                                      Dean Witter World Currency
                                           Fund L.P.
                                           (Registrant)

                                      By: Demeter Management Corporation
                                           (General Partner)

November 12, 1996                     By: /s/ Patti L. Behnke
                                              Patti L. Behnke
                                              Chief Financial Officer




The General Partner which signed the above is the only party
authorized to act for the Registrant.  The Registrant has no
principal executive officer, principal financial officer,
controller, or principal accounting officer and has no Board of
Directors.


<PAGE>