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 quarterly period ended September 30, 2005 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 0-23826

	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.)

Demeter Management Corporation
330 Madison Avenue, 8th Floor
New York, NY							 	  10017
(Address of principal executive offices)	  	      (Zip Code)


Registrant?s telephone number, including area code  (212) 905-2700













(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___________

Indicate by check-mark whether the registrant is an accelerated
filer (as defined in Rule 12b-2 of the Exchange Act).

Yes             No     X

Indicate by check-mark whether the registrant is a shell company
(as defined in Rule 12b-2 of the Exchange Act).  Yes___  No X



<page> <table> DEAN WITTER WORLD CURRENCY FUND L.P.

INDEX TO QUARTERLY REPORT ON FORM 10-Q

September 30, 2005

<caption>


PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

				<c>
		Statements of Financial Condition as of September 30, 2005
 		(Unaudited) and December 31, 2004..........................2

		Statements of Operations for the Three and Nine Months
		Ended September 30, 2005 and 2004 	(Unaudited)..............3

		Statements of Changes in Partners? Capital for the
	  Nine Months Ended September 30, 2005 and 2004
		(Unaudited) ...............................................4

		Statements of Cash Flows for the Nine Months
		Ended September 30, 2005 and 2004 (Unaudited)..............5

		Notes to Financial Statements (Unaudited)...............6-11

Item 2.	Management?s Discussion and Analysis of
			Financial Condition and Results of Operations...... 12-26

Item 3.	Quantitative and Qualitative Disclosures about
			Market Risk........................................ 27-37

Item 4.	Controls and Procedures................................37



PART II. OTHER INFORMATION

Item 6.	Exhibits...............................................38

</table>


<page> <table> PART I.  FINANCIAL INFORMATION

Item 1.  Financial Statements

	DEAN WITTER WORLD CURRENCY FUND L.P.
	STATEMENTS OF FINANCIAL CONDITION
<caption>
	                  September 30,	     December 31,
                       2005      	    2004
	                      $	   $
	                      (Unaudited)
ASSETS

	<c>	<c>
Equity in futures interests trading accounts:
	Cash                              	10,216,846	12,945,037

	Net unrealized gain on open contracts (MS&Co.)	    367,769	     953,614

	     Total Trading Equity	10,584,615	13,898,651

Interest receivable (Morgan Stanley DW)	24,202	        17,959
Due from Morgan Stanley DW	       14,553	        19,982

	     Total Assets	 10,623,370	  13,936,592


LIABILITIES AND PARTNERS? CAPITAL

Liabilities

Redemptions payable	235,949	101,380
Accrued management fees	17,694	23,214
Accrued administrative expenses	         7,089	         8,208

	     Total Liabilities	      260,732	    132,802

Partners? Capital

Limited Partners (9,087.511 and
   10,274.395 Units, respectively)	10,215,084	13,629,656
General Partner (131.267 Units)	      147,554	     174,134

	     Total Partners? Capital	  10,362,638	13,803,790

	     Total Liabilities and Partners? Capital                                              	   10,623,370	13,936,592


NET ASSET VALUE PER UNIT	      1,124.08	    1,326.57
<fn>

	The accompanying notes 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 Three Months	                          For the Nine
Months
  	                 Ended September 30,    	          Ended September 30,


                            2005   	        2004    	       2005   	     2004
                          $	               $	          $	 	  $

	<c>	<c>		<c>	<c>
INVESTMENT INCOME
	Interest income (Morgan Stanley DW)	   73,373		     34,487 		   196,919		            92,464

EXPENSES
	Brokerage commissions (Morgan Stanley DW)	155,533	165,719	471,357		544,737
	Management fees	54,454        	    55,386	169,054 		   198,573
	Administrative expenses	      7,089	          8,472	     21,780		        27,862

		   Total Expenses 	   217,076	       229,577	   662,191		       771,172

NET INVESTMENT LOSS 	   (143,703)	      (195,090)	   (465,272)		     (678,708)

TRADING RESULTS
Trading profit (loss):
	Realized	 20,201	(1,209,348)	(1,053,570)		(3,814,618)
	Net change in unrealized	   (432,109)	       250,016 	   (585,845)	 	       (626,329)

		   Total Trading Results	   (411,908)	    (959,332)	  (1,639,415)             (4,440,947)

NET LOSS	  (555,611)	  (1,154,422)	   (2,104,687)		  (5,119,655)

NET LOSS ALLOCATION

	Limited Partners	(548,087)	  (1,140,448)	(2,078,107)		(5,059,007)
	General Partner	(7,524)	  (13,974)	(26,580)		(60,648)


NET LOSS PER UNIT

	Limited Partners                                                   	(57.31)               (106.45)               (202.49)	(462.02)
	General Partner                                                   	(57.31)	               (106.45)               (202.49)		(462.02)


<fn>


	The accompanying notes 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, 2005 and 2004
	(Unaudited)

<caption>



	  Units of
	    Partnership	Limited	General
	   Interest   	Partners	Partner	Total
		$	$	$


	<c>	<c>	<c>	<c>
Partners? Capital,
	December 31, 2003	11,466.471	16,578,618	191,988	16,770,606

Net Loss                                                             ?   	 	(5,059,007)	(60,648)
	(5,119,655)

Redemptions	    (807.886)	     (986,437)	            ?    	     (986,437)

Partners? Capital,
	September 30, 2004	   10,658.585	 10,533,174	   131,340	 10,664,514




Partners? Capital,
	December 31, 2004	10,405.662	13,629,656	174,134	13,803,790

Net Loss                                                             ?   	 	(2,078,107)	(26,580)
	(2,104,687)

Redemptions	    (1,186.884)	     (1,336,465)	            ?    	     (1,336,465)

Partners? Capital,
	September 30, 2005	      9,218.778	 10,215,084	   147,554	 10,362,638






<fn>







The accompanying notes are an integral part
	of these financial statements.
</table>

<page> <table> 	DEAN WITTER WORLD CURRENCY FUND L.P.
	STATEMENTS OF CASH FLOWS
(Unaudited)


<caption>


	    For the Nine Months Ended September 30,

	    2005     	    2004
	    $	 $


	<c>	<c>
CASH FLOWS FROM OPERATING ACTIVITIES

Net loss		(2,104,687)	(5,119,655)
Noncash item included in net loss:
	Net change in unrealized	585,845	626,329

(Increase) decrease in operating assets:
	Interest receivable (Morgan Stanley DW)	(6,243)	(2,273)
	Due from Morgan Stanley DW	5,429	3,630

Decrease in operating liabilities:
	Accrued management fees	(5,520)	(10,539)
	Accrued administrative expenses	(1,119)	(2,155)
	Accrued incentive fee	              ?     	       (72,698)

Net cash used for operating activities	   (1,526,295)	   (4,577,361)


CASH FLOWS FROM FINANCING ACTIVITIES

Cash paid from redemptions of Units	  (1,201,896)	      (1,120,294)

Cash used for financing activities	  (1,201,896)	      (1,120,294)

Net decrease in cash	(2,728,191)	(5,697,655)

Balance at beginning of period	   12,945,037	   16,359,141

Balance at end of period	   10,216,846	   10,661,486




<fn>

The accompanying notes are an integral part
	of these financial statements.
</table>





<page> DEAN WITTER WORLD CURRENCY FUND L.P.
NOTES TO FINANCIAL STATEMENTS

September 30, 2005

(Unaudited)


The unaudited financial statements contained herein include, in the
opinion of management, all adjustments necessary for a fair
presentation of the results of operations and financial condition
of Dean Witter World Currency Fund L.P. (the ?Partnership?).  The
financial statements and condensed notes herein should be read in
conjunction with the Partnership?s December 31, 2004 Annual Report
on Form 10-K.  Certain reclassifications have been made to the
prior year?s financial statements to conform to the current year
presentation.  Such reclassifications have no impact on the
Partnership?s reported net income (loss).

1.  Organization
Dean Witter World Currency Fund L.P. is a Delaware limited
partnership organized in 1992 to engage primarily in the
speculative trading of futures contracts, options on futures
contracts, and forward contracts on foreign currencies.

The Partnership?s general partner is Demeter Management Corporation
(?Demeter?). The non-clearing commodity broker is Morgan Stanley
DW Inc. (?Morgan Stanley DW?).  The clearing commodity broker is
Morgan Stanley & Co. Incorporated (?MS & Co.?).  Demeter, Morgan
Stanley DW, and MS & Co. are wholly-owned
<page> DEAN WITTER WORLD CURRENCY FUND L.P.
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
subsidiaries of Morgan Stanley.  The trading advisors to the
Partnership are John W. Henry & Company, Inc. and Millburn
Ridgefield Corporation (individually, a ?Trading Advisor?, or
collectively, the ?Trading Advisors?).

2.  Related Party Transactions
The Partnership?s cash is on deposit with Morgan Stanley DW and MS
& Co. in futures, forwards, and options trading accounts to meet
margin requirements as needed.  Monthly, Morgan Stanley DW pays the
Partnership interest income equal to 80% of the average daily Net
Assets for the month at a rate equal to average yield on 13-week
U.S. Treasury bills.  The Partnership pays brokerage commissions to
Morgan Stanley DW.

3.  Financial Instruments
The Partnership trades futures contracts, options on futures
contracts, and forward contracts on foreign 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.

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

The market value of exchange-traded contracts is based on the
settlement price quoted by the exchange on the day with respect
to which market value is being determined.  If an exchange-traded
contract could not have been liquidated on such day due to the
operation of daily limits or other rules of the exchange, the
settlement price shall be the settlement price on the first
subsequent day on which the contract could be liquidated.  The
market value of off-exchange-traded contracts is based on the
fair market value quoted by the counterparty.

The Partnership?s contracts are accounted for on a trade-date
basis and marked to market on a daily basis.  The Partnership
accounts for its derivative investments in accordance with the
provisions of Statement of Financial Accounting Standards No.
133, ?Accounting for Derivative Instruments and Hedging
Activities? (?SFAS No. 133?).  SFAS No. 133 defines a
derivative as a financial instrument or other contract that has
all three of the following characteristics:

1)	One or more underlying notional amounts or payment
provisions;
2)	Requires no initial net investment or a smaller initial net
investment than would be required relative to changes in
market factors;
<page> DEAN WITTER WORLD CURRENCY FUND L.P.
NOTES TO FINANCIAL STATEMENTS (CONTINUED)

3)	Terms require or permit net settlement.

Generally, derivatives include futures, forward, swaps or options
contracts, and other financial instruments with similar
characteristics such as caps, floors, and collars.

The net unrealized gains on open contracts, reported as a component
of ?Equity in futures interests trading accounts? on the
Statements of Financial Condition, and their longest contract
maturities were as follows:

                      Net Unrealized Gains
                        on Open Contracts               Longest Maturities
	               Exchange-    Off-Exchange-	            Exchange-  Off-Exchange-
Date            Traded        Traded        Total	      Traded     Traded
                   $             $            $
Sep. 30, 2005	  -	        367,769	       367,769        -	      Dec. 2005
Dec. 31, 2004	  -	        953,614	       953,614        -	      Mar. 2005

The Partnership has credit risk associated with counterparty non-
performance.  The credit risk associated with the instruments in
which the Partnership trades is limited to the amounts reflected in
the Partnership?s Statements of Financial Condition.



The Partnership also has credit risk because Morgan Stanley DW
and MS & Co. act as the futures commission merchants or the
<page> DEAN WITTER WORLD CURRENCY FUND L.P.
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
counterparties, with respect to most of the Partnership?s assets.
Exchange-traded futures, forward, and futures-styled options
contracts are marked to market on a daily basis, with variations
in value settled on a daily basis.  Morgan Stanley DW and MS &
Co., each as a futures commission merchant for the Partnership?s
exchange-traded futures, forward, and futures-styled options
contracts, are required, pursuant to regulations of the Commodity
Futures Trading Commission (?CFTC?), to segregate from their
own assets, and for the sole benefit of their commodity
customers, all funds held by them with respect to exchange-traded
futures, forward, and futures-styled options contracts, including
an amount equal to the net unrealized gains (losses) on all open
futures, forward, and futures-styled options contracts.  With
respect to the Partnership?s off-exchange-traded forward currency
contracts, there are no daily exchange-required settlements of
variation in value, nor is there any requirement that an amount
equal to the net unrealized gains (losses) on open forward
contracts be segregated.  However, the Partnership is required to
meet margin requirements equal to the net unrealized loss on open
contracts in the Partnership accounts with the counterparty,
which is accomplished by daily maintenance of the cash balance in
a custody account held at Morgan Stanley DW for the benefit of MS
& Co.  With respect to those off-exchange-traded forward currency
contracts, the Partnership is at risk to the ability of MS & Co.,
<page> DEAN WITTER WORLD CURRENCY FUND L.P.
NOTES TO FINANCIAL STATEMENTS (CONCLUDED)

the sole counterparty on all such contracts, to perform.  The
Partnership has a netting agreement with MS & Co.  This



agreement, which seeks to reduce both the Partnership?s and MS &
Co.?s exposure on off-exchange-traded forward currency contracts,
should materially decrease the Partnership?s credit risk in the
event of MS & Co.?s bankruptcy or insolvency.



<page> Item 2. MANAGEMENT?S DISCUSSION AND ANALYSIS OF FINANCIAL
            CONDITION AND RESULTS OF OPERATIONS


Liquidity.  The Partnership deposits its assets with Morgan Stanley
DW as non-clearing broker and MS & Co. as clearing broker in
separate futures, forwards, and options trading accounts
established for each Trading Advisor.  Such assets are used as
margin to engage in trading and may be used as margin solely for
the Partnership?s trading. The assets are held in either non-
interest bearing bank accounts or in securities and instruments
permitted by the CFTC for investment of customer segregated or
secured funds.  Since the Partnership?s sole purpose is to trade in
futures, forwards, and options, it is expected that the Partnership
will continue to own such liquid assets for margin purposes.

The Partnership?s investment in futures, forwards, and options may,
from time to time, be illiquid.  Most U.S. futures exchanges limit
fluctuations in prices during a single day by regulations referred
to as ?daily price fluctuations limits? or ?daily limits?.
Trades may not be executed at prices beyond the daily limit.  If
the price for a particular futures or options contract has
increased or decreased by an amount equal to the daily limit,
positions in that futures or options contract can neither be taken
nor liquidated unless traders are willing to effect trades at or
within the limit.  Futures prices have occasionally moved the daily
limit for several consecutive days with little or no <page>
trading. These market conditions could prevent the Partnership from
promptly liquidating its futures or options contracts and result in
restrictions on redemptions.

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.  For the periods covered by this
report, illiquidity has not materially affected the Partnership?s
assets.

There are no known material trends, demands, commitments, events,
or uncertainties at the present time that are reasonably likely to
result in the Partnership?s liquidity increasing or decreasing in
any material way.

Capital Resources.  The Partnership does not have, nor expects to
have, any capital assets.  Redemptions of units of limited
partnership interest (?Unit(s)?) in the future will affect the
amount of funds available for investments in futures, forwards, and
options in subsequent periods.  It is not possible to estimate the
amount, and therefore the impact, of future outflows of Units.
<page> There are no known material trends, favorable or unfavorable,
that would affect, nor any expected material changes to, the
Partnership?s capital resource arrangements at the present time.

Off-Balance Sheet Arrangements and Contractual Obligations.  The
Partnership does not have any off-balance sheet arrangements, nor
does it have contractual obligations or commercial commitments to
make future payments that would affect its liquidity or capital
resources.

Results of Operations
General.  The Partnership?s results depend on the Trading Advisors
and the ability of each Trading Advisor?s trading program(s) to take
advantage of price movements in the futures, forwards, and options
markets.  The following presents a summary of the Partnership?s
operations for the three and nine month periods ended September 30,
2005 and 2004, and a general discussion of its trading activities
during each period.  It is important to note, however, that the
Trading Advisors trade in various markets at different times and
that prior activity in a particular market does not mean that such
market will be actively traded by the Trading Advisors or will be
profitable in the future.  Consequently, the results of operations
of the Partnership are difficult to discuss other than in the
context of the Trading Advisors? trading <page> activities on behalf
of the Partnership during the period in question. Past performance
is no guarantee of future results.
The Partnership?s results of operations set forth in the financial
statements on pages 2 through 11 of this report are prepared in
accordance with accounting principles generally accepted in the
United States of America, which require the use of certain
accounting policies that affect the amounts reported in these
financial statements, including the following:  The contracts the
Partnership trades are accounted for on a trade-date basis and
marked to market on a daily basis.  The difference between their
cost and market value is recorded on the Statements of Operations as
?Net change in unrealized trading profit (loss)? for open
(unrealized) contracts, and recorded as ?Realized trading profit
(loss)? when open positions are closed out.  The sum of these
amounts constitutes the Partnership?s trading results.  The market
value of a futures contract is the settlement price on the exchange
on which that futures contract is traded on a particular day.  The
value of foreign currency forward contracts is based on the spot
rate as of the close of business.  Interest income, as well as
management fees, incentive fees, and brokerage commissions expenses
of the Partnership are recorded on an accrual basis.

Demeter believes that, based on the nature of the operations of the
Partnership, no assumptions relating to the application of critical
accounting policies other than those presently used could
reasonably affect reported amounts.
<page>

For the Three and Nine Months Ended September 30, 2005

The Partnership recorded total trading results including interest
income totaling $(338,535) and expenses totaling $217,076,
resulting in a net loss of $555,611 for the three months ended
September 30, 2005.  The Partnership?s net asset value per Unit
decreased from $1,181.39 at June 30, 2005 to $1,124.08 at
September 30, 2005.

The most significant trading losses of approximately 3.6%, 1.2%,
0.7%, 0.5%, and 0.6%, respectively, resulted from positions in
the British pound, Norwegian krone, both the New Zealand and
Australian dollars, and the Czech koruna.  During July, long
positions in the British pound versus the U.S. dollar experienced
losses as the value of the pound dropped sharply on geopolitical
concerns after a terror attack on the London public
transportation system.  During August, long U.S. dollar positions
against the British pound, Norwegian krone, and Czech koruna,
incurred losses as the value of the U.S. dollar declined amid
higher crude oil prices, lower durable goods orders, the U.S.
trade imbalance, and economic warnings from U.S. Federal Reserve
Chairman Alan Greenspan.  Strong signals of euro-zone economic
improvement also supported the advance of the British pound,
Norwegian krone, and Czech koruna.  Short positions in the New
Zealand and Australian dollars versus the U.S. dollar also
recorded losses during August as the values of those currencies
<page> moved higher on strong economic data out of the region.
During September, losses were recorded from short U.S. dollar
positions against the British pound, Norwegian krone, Czech
koruna, and both the Australian and New Zealand dollars, as the
value of the U.S. dollar advanced amid bolstered expectations
that the U.S. Federal Reserve would continue to raise interest
rates. Also forcing the New Zealand dollar lower against the U.S.
dollar  were fears for an economic slow-down in New Zealand
during 2006. Additional losses of approximately 0.9% were
recorded from positions in the Singapore dollar against the U.S.
dollar.  During July, short positions recorded losses after the
Singapore dollar?s value reversed higher in response to market
expectations for future economic growth in Singapore.  During
August, losses stemmed from long Singapore dollar positions after
the value of the Singapore dollar finished lower in response to
disappointing export data. Finally, smaller Partnership losses of
approximately 0.6% and 0.1%, respectively, were recorded during
August from short positions in the euro and Swiss franc against
the U.S. dollar after the value of the U.S. dollar weakened on
disappointing economic data.  A portion of the Partnership?s
overall losses for the quarter was offset by gains of
approximately 0.9% from short positions in the Japanese yen
versus the U.S. dollar during July and September.  During July,
gains resulted after the U.S. dollar?s value strengthened against
the yen on significant interest rate differentials between the
U.S. and Japan.  Market participants also drove the U.S. dollar
<page> higher against the yen amid beliefs that U.S. interest
rates would increase further, the release of strong U.S. economic
data, and news that the U.S. Current-Account deficit had
narrowed.  During September, short Japanese yen positions
achieved gains after the yen?s value declined in the wake of weak
Japanese economic data, including industrial production, salaried
household spending, and the Tokyo consumer price index.


The Partnership recorded total trading results including interest
income totaling $(1,442,496) and expenses totaling $662,191,
resulting in a net loss of $2,104,687 for the nine months ended
September 30, 2005. The Partnership?s net asset value per Unit
decreased from $1,326.57 at December 31, 2004 to $1,124.08 at
September 30, 2005.

The most significant trading losses of approximately 13.4%
resulted from positions in European currencies against the U.S.
dollar.  Early during the first quarter, losses resulted from
long positions in the British pound, Norwegian krone, euro, Czech
koruna, and Swedish krona versus the U.S. dollar after the U.S.
dollar?s value reversed sharply higher amid an increase in U.S.
interest rates and consumer prices.  The U.S. dollar?s value also
advanced in response to expectations that the Chinese government
would announce postponement of its revaluation of the Chinese
yuan.  During February, losses were incurred from short European
currency positions after the U.S. dollar?s value weakened in
<page> response to concerns for the considerable U.S. Current-
Account deficit as expressed by U.S. Federal Reserve Chairman
Alan Greenspan. During early March, short European currency
positions continued to experience losses as their values moved
higher amid a sharp rise in German industrial production.
Further losses were recorded from newly-established long European
currency positions versus the U.S. dollar as the U.S. dollar?s
value reversed sharply higher amid an increase in U.S. interest
rates and consumer prices.  During the second quarter, long
British pound positions incurred losses as the pound?s value
declined after British Prime Minister Tony Blair's Labour Party
won re-election with a reduced government majority, and then
moved lower later in the quarter on growing speculation that the
interest rate differential between the U.S. and the U.K. would
tighten.  During July, long British pound positions experienced
losses as the value of the pound dropped sharply on geopolitical
concerns after a terror attack on the London public
transportation system.  During August, short British pound
positions incurred losses as the value of the U.S. dollar
declined amid higher crude oil prices, lower durable goods
orders, the U.S. trade imbalance, and economic warnings from U.S.
Federal Reserve Chairman Alan Greenspan.  During September,
losses were recorded from long positions in the British pound,
Norwegian krone, and Czech koruna, as the value of the U.S.
dollar advanced amid bolstered expectations that the U.S. Federal
Reserve would continue to raise interest rates.  Additional
<page> losses of approximately 4.6%, 1.8%, and 1.7%,
respectively, were recorded from positions in the South African
rand and both the New Zealand and Australian dollars
(collectively the ?Commodity Currencies?).  During the first
quarter, losses stemmed from both long and short positions in
these currencies versus the U.S. dollar as the values of the
Commodity Currencies traded counter to the U.S. dollar, which
benefited due to positive economic data.  During the second
quarter, long positions in the Australian dollar versus the U.S.
dollar produced losses as the Australian dollar declined amid
falling gold prices.  During the third quarter, short positions
in the New Zealand and Australian dollars versus the U.S. dollar
recorded losses as the values of the Commodity Currencies moved
higher on strong economic data out of the respective regions.
During September, losses were recorded from long Australian and
New Zealand dollar positions as the value of the U.S. dollar
advanced amid bolstered expectations that the U.S. Federal
Reserve would continue to raise interest rates. Also forcing the
New Zealand dollar lower against the U.S. dollar were fears for
an economic slow-down in New Zealand during 2006.  Partnership
losses of approximately 2.9% were recorded primarily during the
first quarter from positions in the Singapore dollar versus the
U.S. dollar.  During February, long positions in the Singapore
dollar against the U.S. dollar incurred losses early in the month
as the U.S. dollar?s value benefited from positive economic
sentiment.  Newly-established short Singapore dollar positions
<page> also incurred losses later in the month after the U.S.
dollar weakened due to a larger-than-expected drop in January
leading economic indicators and news that South Korea?s Central
Bank planned to reduce its U.S. dollar currency reserves.  During
March, long positions in the Singapore dollar versus the U.S.
dollar resulted in losses as the value of the U.S. dollar
reversed sharply higher amid an increase in U.S. interest rates
and U.S. consumer prices.  Positions in the Singapore dollar
against the U.S. dollar held during the third quarter also
contributed to losses.  A portion of the Partnership?s overall
losses for the first nine months of the year was offset by gains
of approximately 1.7% from short positions in the Japanese yen
against the U.S. dollar.  During March, gains resulted as the
U.S. dollar advanced against the yen due to an increase in U.S.
interest rates by the U.S. Federal Reserve.  Short Japanese yen
positions held during the second quarter also produced profits as
the yen?s value declined during May and June in response to weak
Japanese economic data.  During July, gains resulted after the
U.S. dollar?s value strengthened against the yen on significant
interest rate differentials between the U.S. and Japan.  Market
participants also drove the U.S. dollar higher against the yen
during July amid beliefs that U.S. interest rates would increase
further, the release of strong U.S. economic data, and news that
the U.S. Current-Account deficit had narrowed.  During September,
short Japanese yen positions achieved gains after the yen?s value
declined in the wake of weak Japanese economic data, including
<page> industrial production, salaried household spending, and
the Tokyo consumer price index.
For the Three and Nine Months Ended September 30, 2004

The Partnership recorded total trading results including interest
income totaling $(924,845) and expenses totaling $229,577,
resulting in a net loss of $1,154,422 for the three months ended
September 30, 2004.  The Partnership?s net asset value per Unit
decreased from $1,107.01 at June 30, 2004 to $1,000.56 at
September 30, 2004.

The most significant trading losses of approximately 3.2% were
recorded primarily during August from both long and short euro
positions relative to the U.S. dollar as the euro experienced
short-term volatility in response to inconsistent energy prices
and conflicting global economic data.  During August and
September, short positions in the Japanese yen versus the U.S.
dollar incurred losses of approximately 2.6% as the U.S. dollar?s
value declined in response to concerns for the rate of U.S.
economic growth, soft economic data, and record-high oil prices.
Losses of approximately 1.4% stemmed from long Australian dollar
positions versus the U.S. dollar as the U.S. dollar strengthened
and reversed higher during July in response to upbeat market
sentiment and a jump in July consumer confidence data.  Long
South African rand positions versus the U.S. dollar also
generated losses of approximately 1.2% during July and during
August due to a reduction in interest rates by the Reserve Bank
<page> of South Africa.  During August, long positions in the
Norwegian krone versus the U.S. dollar incurred losses of
approximately 0.9% as the value of the U.S. dollar temporarily
strengthened in response to a decline in U.S. unemployment
claims.  Losses of approximately 0.7% were incurred from long
positions in the Swiss franc and British pound, respectively, as
the U.S. dollar advanced during July in response to uplifting
economic data.  During September, short positions in those same
currencies versus the U.S. dollar supplied losses as the U.S.
dollar?s value declined in response to rising oil prices that
continued to fuel fears for potential sluggish U.S. economic
growth.

The Partnership recorded total trading results including interest
income totaling $(4,348,483) and expenses totaling $771,172,
resulting in a net loss of $5,119,655 for the nine months ended
September 30, 2004. The Partnership?s net asset value per Unit
decreased from $1,462.58 at December 31, 2003 to $1,000.56 at
September 30, 2004.

The most significant trading losses of approximately 10.2% were
recorded from positions in the Japanese yen versus the U.S.
dollar.  Long positions in the Japanese yen versus the U.S.
dollar resulted in losses during February after the Bank of Japan
intervened in the currency markets by buying U.S. dollars in an
attempt to stem the yen?s rise.  The yen?s value further declined
<page> under pressure from an elevation in Japan?s security
level.  During March, losses were experienced from short yen
positions against the U.S. dollar as the yen reversed higher due
to speculation that the Bank of Japan was relaxing its efforts to
weaken the yen.  During April, long yen positions incurred losses
as the U.S. dollar surged versus most currencies following the
release of stronger-than-expected U.S. jobs data.  The yen also
came under pressure following efforts by the Japanese government
to weaken the yen through currency market interventions.  Short
yen positions versus the U.S. dollar experienced losses during
May as the U.S. dollar?s value declined amid fears of potential
terrorist attacks, expanding energy prices and the release of
weaker-than-expected U.S. economic data during the latter half of
May.  During June, short Japanese yen positions resulted in
further losses as better-than-anticipated improvements in
Japanese economic data and speculation that the Bank of Japan
would move to raise interest rates pushed the yen higher.  During
August and September, short positions in the Japanese yen versus
the U.S. dollar incurred losses as the U.S. dollar?s value
declined in response to concerns for the rate of U.S. economic
growth, soft economic data, and record-high oil prices.
Additional losses of approximately 2.9% and 1.5%, respectively,
were experienced from positions in the Singapore dollar and
Korean won as their values traded in tandem with the yen.  Losses
of approximately 7.4% were incurred from positions in the euro
versus the U.S. dollar, primarily during March, May, and June.
<page> Such losses were the result of erratic movements in the
euro and the U.S. dollar during these months.  During August,
long and short euro positions relative to the U.S. dollar
experienced losses due to continued short-term volatility caused
by inconsistent energy prices and conflicting European and U.S.
economic data.  Smaller losses of approximately 2.9%, 1.8%, 1.6%,
and 1.5%, respectively, were experienced in the Norwegian krone,
Czech koruna, Swiss franc, and British pound versus the U.S.
dollar, as their values traded in a volatile manner in relation
to the U.S. dollar.  Further Partnership losses of approximately
4.2% were sustained from positions in the South African rand
versus the U.S. dollar, primarily during January and April.
During January, long rand positions experienced losses amid
expectations for a decline in gold prices caused by an
improvement in the global macro-economic environment.  During
April, long rand positions recorded losses as the U.S. dollar
benefited from rising U.S. interest rates and the perception that
the U.S. economy was experiencing a sustainable recovery.  Losses
of approximately 2.2% stemmed from positions in the Australian
dollar versus the U.S. dollar, incurred primarily during March
and July.  Long Australian dollar positions recorded losses
during March as the Australian dollar?s value fell amid the
belief that the Australian Central Bank would not increase
interest rates in the short term. During July, long Australian
dollar positions experienced losses as the U.S. dollar
strengthened and reversed higher in response to upbeat market
<page> sentiment and a jump in July consumer confidence data.
Smaller losses of approximately 1.7% stemmed from Mexican peso
positions versus the U.S. dollar throughout the majority of the
first quarter.






















<page>
Item 3.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Introduction
The Partnership is a commodity pool engaged primarily in the
speculative trading of futures, forwards, and options.  The market-
sensitive instruments held by the Partnership are acquired for
speculative trading purposes only and, as a result, all or
substantially all of the Partnership?s assets are at risk of
trading loss.  Unlike an operating company, the risk of market-
sensitive instruments is inherent to the primary business activity
of the Partnership.

The futures, forwards, and options traded by the Partnership
involve varying degrees of related market risk.  Market risk is
often dependent upon changes in the level or volatility of
interest rates, exchange rates, and prices of financial
instruments and commodities, factors that result in frequent
changes in the fair value of the Partnership?s open positions,
and consequently in its earnings, whether realized or unrealized,
and cash flow.  Gains and losses on open positions of exchange-
traded futures, forwards, and options are settled daily through
variation margin.  Gains and losses on off-exchange-traded
forward currency contracts are settled upon termination of the
contract, however, the Partnership is required to meet margin
requirements equal to the net unrealized loss on open contracts
in the Partnership accounts with the counterparty, which is
<page> accomplished by daily maintenance of the cash balance in a
custody account held at Morgan Stanley DW for the benefit of MS &
Co.

The Partnership?s total market risk may increase or decrease as
it is influenced by a wide variety of factors, including, but not
limited to, the diversification among the Partnership?s open
positions, the volatility present within the markets, and the
liquidity of the markets.

The face value of the market sector instruments held by the
Partnership is typically many times the applicable margin
requirements.  Margin requirements generally range between 2% and
15% of contract face value.  Additionally, the use of leverage
causes the face value of the market sector instruments held by
the Partnership to typically be many times the total
capitalization of the Partnership.

The Partnership?s past performance is no guarantee of its future
results.  Any attempt to numerically quantify the Partnership?s
market risk is limited by the uncertainty of its speculative
trading.  The Partnership?s speculative trading and use of
leverage may cause future losses and volatility (i.e., ?risk of
ruin?) that far exceed the Partnership?s experience to date
under the ?Partnership?s Value at Risk in Different Market
Sectors? <page> section and significantly exceed the Value at
Risk (?VaR?) tables disclosed.
Limited partners will not be liable for losses exceeding the
current net asset value of their investment.


Quantifying the Partnership?s Trading Value at Risk
The following quantitative disclosures regarding the Partnership?s
market risk exposures contain ?forward-looking statements? within
the meaning of the safe harbor from civil liability provided for
such statements by the Private Securities Litigation Reform Act of
1995 (set forth in Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934).  All
quantitative disclosures in this section are deemed to be forward-
looking statements for purposes of the safe harbor, except for
statements of historical fact.

The Partnership accounts for open positions on the basis of mark to
market accounting principles.  Any loss in the market value of the
Partnership?s open positions is directly reflected in the
Partnership?s earnings and cash flow.

The Partnership?s risk exposure in the market sectors traded by
the Trading Advisors is estimated below in terms of VaR.  The
Partnership estimates VaR using a model based upon historical
simulation (with a confidence level of 99%) which involves
constructing a distribution of hypothetical daily changes in the
<page> value of a trading portfolio.  The VaR model takes into
account linear exposures to risk including equity and commodity
prices, interest rates, foreign exchange rates, and correlation
among these variables. The hypothetical changes in portfolio
value are based on daily percentage changes observed in key
market indices or other market factors (?market risk factors?)
to which the portfolio is sensitive.  The one-day 99% confidence
level of the Partnership?s VaR corresponds to the negative change
in portfolio value that, based on observed market risk factors,
would have been exceeded once in 100 trading days, or one day in
100. VaR typically does not represent the worst case outcome.
Demeter uses approximately four years of daily market data (1,000
observations) and revalues its portfolio (using delta-gamma
approximations) for each of the historical market moves that
occurred over this time period.  This generates a probability
distribution of daily ?simulated profit and loss? outcomes.  The
VaR is the appropriate percentile of this distribution.  For
example, the 99% one-day VaR would represent the 10th worst outcome
from Demeter?s simulated profit and loss series.

The Partnership?s VaR computations are based on the risk
representation of the underlying benchmark for each instrument or
contract and do not distinguish between exchange and non-exchange
dealer-based instruments.  They are also not based on exchange
and/or dealer-based maintenance margin requirements.

<page> VaR models, including the Partnership?s, are continually
evolving as trading portfolios become more diverse and modeling
techniques and systems capabilities improve.  Please note that
the VaR model is used to numerically quantify market risk for
historic reporting purposes only and is not utilized by either
Demeter or the Trading Advisors in their daily risk management
activities. Please further note that VaR as described above may
not be comparable to similarly titled measures used by other
entities.

The Partnership?s Value at Risk in Different Market Sectors
The following table indicates the VaR associated with the
Partnership?s open positions as a percentage of total Net Assets
by primary market risk category at September 30, 2005 and 2004.  At
September 30, 2005 and 2004, the Partnership?s total capitalization
was approximately $10 million and $11 million, respectively.

Primary Market       September 30, 2005	   September 30, 2004
Risk Category	  	   Value at Risk	      Value at Risk

Currency                   (3.08)%	              (2.35)%

The VaR for a market category represents the one-day downside risk
for the aggregate exposures associated with this market category.
Because the business of the Partnership is the speculative trading
of futures, forwards, and options, the composition of its trading
portfolio can change significantly over any given time period, or
<page> even within a single trading day, which could positively or
negatively materially impact market risk as measured by VaR.

The table below supplements the quarter-end VaR set forth above
by presenting the Partnership?s high, low, and average VaR, as a
percentage of total Net Assets for the four quarter-end reporting
periods from October 1, 2004 through September 30, 2005.

Primary Market Risk Category        High        Low      Average
Currency  	 (4.11)%	(3.01)%	 (3.56)%

Limitations on Value at Risk as an Assessment of Market Risk
VaR models permit estimation of a portfolio?s aggregate market risk
exposure, incorporating a range of varied market risks; reflect
risk reduction due to portfolio diversification or hedging
activities; and can cover a wide range of portfolio assets.
However, VaR risk measures should be viewed in light of the
methodology?s limitations, which include, but may not be limited to
the following:
*	past changes in market risk factors will not always result in
accurate predictions of the distributions and correlations of
future market movements;
*	changes in portfolio value caused by market movements may differ
from those of the VaR model;


<page>
*	VaR results reflect past market fluctuations applied to current
trading positions while future risk depends on future positions;
*	VaR using a one-day time horizon does not fully capture the
market risk of positions that cannot be liquidated or hedged
within one day; and
*	the historical market risk factor data used for VaR estimation
may provide only limited insight into losses that could be
incurred under certain unusual market movements.

In addition, the VaR tables above, as well as the past performance
of the Partnership, give no indication of the Partnership?s
potential ?risk of ruin?.

The VaR tables provided present the results of the Partnership?s
VaR for its market risk exposure at September 30, 2005, and for the
four quarter-end reporting periods from October 1, 2004 through
September 30, 2005.  VaR is not necessarily representative of the
Partnership?s historic risk, nor should it be used to predict the
Partnership?s future financial performance or its ability to manage
or monitor risk. There can be no assurance that the Partnership?s
actual losses on a particular day will not exceed the VaR amounts
indicated above or that such losses will not occur more than once
in 100 trading days.

<page>
Non-Trading Risk
The Partnership has non-trading market risk on its foreign cash
balances.  The Partnership did not have any foreign currency
balances at September 30, 2005.

The Partnership also maintains a substantial portion of its
available assets in cash at Morgan Stanley DW; as of September
30, 2005, such amount is equal to approximately 98% of the
Partnership?s net asset value.  A decline in short-term interest
rates would result in a decline in the Partnership?s cash
management income.  This cash flow risk is not considered to be
material.

Materiality, as used throughout this section, is based on an
assessment of reasonably possible market movements and any
associated potential losses, taking into account the leverage,
optionality, and multiplier features of the Partnership?s market-
sensitive instruments, in relation to the Partnership?s Net
Assets.

Qualitative Disclosures Regarding Primary Trading Risk Exposures
The following qualitative disclosures regarding the Partnership?s
market risk exposures ? except for (A) those disclosures that are
statements of historical fact and (B) the descriptions of how the
Partnership manages its primary market risk exposures ?
constitute <page> forward-looking statements within the meaning
of Section 27A of  the Securities Act and Section 21E of the
Securities Exchange Act. The Partnership?s primary market risk
exposures as well as the strategies used and to be used by
Demeter and the Trading Advisors for managing such exposures, are
subject to numerous uncertainties, contingencies and risks, any
one of which could cause the actual results of the Partnership?s
risk controls to differ materially from the objectives of such
strategies.  Government interventions, defaults and
expropriations, illiquid markets, the emergence of dominant
fundamental factors, political upheavals, changes in historical
price relationships, an influx of new market participants,
increased regulation, and many other factors could result in
material losses, as well as in material changes to the risk
exposures and the risk management strategies of the Partnership.
 Investors must be prepared to lose all or substantially all of
their investment in the Partnership.

The following was the only trading risk exposure of the
Partnership at September 30, 2005.  It may be anticipated,
however, that this market exposure will vary materially over
time.

Currency.  The Partnership?s currency market exposure at
September 30, 2005 was to exchange rate fluctuations, primarily
fluctuations which disrupt the historical pricing relationships
between different currencies and currency pairs.  Interest rate
changes, as well as political and general economic conditions
<page> influence these fluctuations.  The Partnership trades a
large number of currencies, including cross-rates - i.e.,
positions between two currencies other than the U.S. dollar.  At
September 30, 2005, the Partnership?s major exposures were to the
euro, Swedish krona, Norwegian krone, Japanese yen, Australian
dollar, Swiss franc, British pound, Polish zloty, and Canadian
dollar  currency crosses, as well as to outright U.S. dollar
positions. Outright positions consist of the U.S. dollar vs.
other currencies.  These other currencies include major and minor
currencies.  Demeter does not anticipate that the risk associated
with the Partnership?s currency trades will change significantly
in the future.

Qualitative Disclosures Regarding Non-Trading Risk Exposure
At September 30, 2005, there was no non-trading risk exposure
because the Partnership did not have any foreign currency
balance.

Qualitative Disclosures Regarding Means of Managing Risk Exposure
The Partnership and the Trading Advisors, separately, attempt to
manage the risk of the Partnership?s open positions in essentially
the same manner in all market categories traded.  Demeter attempts
to manage market exposure by diversifying the Partnership?s assets
among different Trading Advisors in a multi-advisor Partnership,
each of whose strategies focus on different trading approaches, and
by monitoring the performance of the Trading Advisors daily.
<page> In addition, the Trading Advisors establish diversification
guidelines, often set in terms of the maximum margin to be
committed to positions in any one market sector or market-sensitive
instrument.

Demeter monitors and controls the risk of the Partnership?s non-
trading instrument, cash.  Cash is the only Partnership investment
directed by Demeter, rather than the Trading Advisors.

Item 4.  CONTROLS AND PROCEDURES

(a)	As of the end of the period covered by this quarterly
report, the President and Chief Financial Officer of
Demeter, the general partner of the Partnership, have
evaluated the effectiveness of the Partnership?s
disclosure controls and procedures (as defined in Rules
13a-15(e) and 15d-15(e) of the Exchange Act), and have
judged such controls and procedures to be effective.

(b)	There have been no material changes during the period
covered by this quarterly report in the Partnership?s
internal control over financial reporting (as defined in
Rules 13a-15(f) and 15d-15(f) of the Exchange Act) or in
other factors that could significantly affect these
controls subsequent to the date of their evaluation.

<page> PART II.  OTHER INFORMATION

Item 6.  EXHIBITS

31.01	Certification of President of Demeter Management
Corporation, the general partner of the Partnership
pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.02	Certification of Chief Financial Officer of Demeter
Management Corporation, the general partner of the
Partnership pursuant to Section 302 of the Sarbanes-Oxley
Act of 2002.
32.01	Certification of President of Demeter Management
Corporation, the general partner of the Partnership,
pursuant to 18 U.S.C. Section 1350, as adopted pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002.
32.02	Certification of Chief Financial Officer of Demeter
Management Corporation, the general partner of the
Partnership, pursuant to 18 U.S.C. Section 1350, as
adopted pursuant to Section 906 of the Sarbanes-Oxley Act
of 2002.













<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 14, 2005      By:/s/Kevin Perry
                             Kevin Perry
                             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.









DEAN WITTER WORLD CURRENCY FUND L.P.
NOTES TO FINANCIAL STATEMENTS (CONCLUDED)