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 June 30, 1998 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 No. 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.)

c/o Demeter Management Corporation
Two World Trade Center, 62 Fl., New York, NY             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>
              DEAN WITTER WORLD CURRENCY FUND L.P.

             INDEX TO QUARTERLY REPORT ON FORM 10-Q

                         June 30, 1998
<CAPTION>

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

     Statements of Financial Condition June 30, 1998
     (Unaudited) and December 31, 1997....................2

     Statements of Operations for the Quarters Ended
     June 30, 1998 and 1997 (Unaudited)...................3

     Statements of Operations for the Six Months Ended
     June 30, 1998 and 1997 (Unaudited)...................4

     Statements of Changes in Partners' Capital for the
        Six Months Ended June 30, 1998 and 1997
     (Unaudited)..........................................5

     Statements of Cash Flows for the Six Months Ended
     June 30, 1998 and 1997 (Unaudited)...................6

        Notes to Financial Statements (Unaudited).........7-11

Item 2. Management's Discussion and Analysis of

Financial Condition and Results of Operations.12-17

Part II. OTHER INFORMATION

Item 1. Legal Proceedings................................18

Item 6. Exhibits and Reports on Form 8-K.................19


</TABLE>















<PAGE>
<TABLE>
                 PART I.  FINANCIAL INFORMATION

ITEM 1.  Financial Statements

              DEAN WITTER WORLD CURRENCY FUND L.P.
               STATEMENTS OF FINANCIAL CONDITION
<CAPTION>


                                      June 30,     December 31,
                                        1998           1997
                                         $              $
                                    (Unaudited)
ASSETS
<S>                                <C>              <C>
Equity in Commodity futures trading accounts:
 Cash                             29,379,174     31,327,827
 Net unrealized gain on open contracts664,184       775,529
 Net option premiums                 254,238         49,687

 Total Trading Equity             30,297,596     32,153,043

Interest receivable (DWR)             93,404        106,973
Due from DWR                          49,606             -

 Total Assets                     30,440,606     32,260,016


LIABILITIES AND PARTNERS' CAPITAL

Liabilities

 Redemptions payable                 254,435        305,335
 Accrued management fees              76,008          80,650
 Accrued administrative expenses      37,241         -

 Total Liabilities                   367,684        385,985

Partners' Capital

 Limited Partners (28,010.066 and
  30,865.833 Units, respectively) 28,830,066     30,674,029
 General Partner (1,207.506 Units)   1,242,856    1,200,002

 Total Partners' Capital          30,072,922     31,874,031

 Total Liabilities and Partners' Capital   30,440,606  32,260,016


NET ASSET VALUE PER UNIT           1,029.28            993.79
<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 Quarters Ended June 30,

                                       1998            1997
                                        $            $
REVENUES
<S>                         <C>              <C>
 Trading profit (loss):
    Realized                     2,408,497    (758,374)
    Net change in unrealized     (590,272)     992,899

      Total Trading Results      1,818,225     234,525

 Interest Income (DWR)             285,996     310,129

      Total Revenues             2,104,221     544,654

EXPENSES

 Brokerage commissions (DWR)       301,092     241,038
 Management fees                   221,632     225,665
 Administrative expenses            18,385      18,808
 Transaction fees and costs         17,391       19,802

    Total Expenses                 558,500      505,313

NET INCOME                       1,545,721       39,341


NET INCOME ALLOCATION

                         Limited                         Partners
1,481,122                                       38,035
                          General                         Partner
64,599                                           1,306

NET INCOME PER UNIT

                         Limited                         Partners
53.50                                       1.08
                          General                         Partner
53.50                              1.08

<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 Six Months Ended June 30,

                                       1998            1997
                                        $            $
REVENUES
<S>                          <C>             <C>
 Trading profit (loss):
    Realized                     1,500,178   6,467,810
    Net change in unrealized       (111,345)     (337,792)

      Total Trading Results      1,388,833   6,130,018

 Interest Income (DWR)             592,578       614,400

      Total Revenues             1,981,411   6,744,418

EXPENSES

 Brokerage commissions (DWR)       519,850     476,898
 Management fees                   449,681     457,329
 Administrative expenses            37,246      37,436
 Transaction fees and costs         29,107       35,022
 Incentive fees                    -            489,505

    Total Expenses               1,035,884    1,496,190

NET INCOME                         945,527   5,248,228


NET INCOME ALLOCATION

                         Limited                         Partners
902,673                                     5,076,625
                          General                         Partner
42,854                                      171,603

NET INCOME PER UNIT

                         Limited                         Partners
35.49                        142.11
                          General                         Partner
35.49                        142.11

<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 Six Months Ended June 30, 1998 and 1997
                          (Unaudited)



<CAPTION>

                          Units of
                        Partnership Limited   General
                          Interest   Partners Partner    Total

<S>          <C>                           <C>                   <C>
<C>
Partners' Capital,
 December 31, 1996   37,200.115            $25,668,776           $861,155
$26,529,931

Net Income              -                  5,076,625             171,603
5,248,228

Redemptions           (3,105.235)          (2,617,412)                    -
(2,617,412)

Partners' Capital,
 June 30, 1997       34,094.880            $28,127,989           $1,032,758
$29,160,747



Partners' Capital,
 December 31, 1997   32,073.339            $30,674,029           $1,200,002
$31,874,031

Net Income             -                     902,673             42,854
945,527

Redemptions           (2,855.767)          (2,746,636)                     -
(2,746,636)

Partners' Capital,
 June 30, 1998       29,217.572            $28,830,066           $1,242,856
$30,072,922




<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 Six Months Ended June 30,

                                       1998            1997
                                        $            $
CASH FLOWS FROM OPERATING ACTIVITIES
<S>                          <C>                         <C>
Net   income                            945,527                 5
,248,228
Noncash item included in net income:
    Net change in unrealized        111,345              337,792

(Increase)decrease in operating assets:
    Net option premiums             (204,551)            230,200
    Interest receivable (DWR)        13,569              (8,084)
    Due from DWR                     (49,606)            40,800

Increase (decrease) in operating liabilities:
    Accrued management fees           (4,642)            6,279
    Accrued administrative expenses  37,241              (9,740)
    Accrued brokerage commissions (DWR)-                 (15,012)
       Accrued   transaction   fees   and    costs              -
(805)

Net  cash  provided  by  operating  activities   848,883        5
,829,658


CASH FLOWS FROM FINANCING ACTIVITIES

   Decrease  in  redemptions  payable      (50,900)             (
137,473)
   Redemption  of  units               (2,746,636)              (
2,617,412)

Net  cash  used  for  financing  activities  (2,797,536)        (
2,754,885)


Net  increase  (decrease)  in  cash    (1,948,653)              3
,074,773

Balance  at  beginning  of  period      31,327,827              2
5,825,801

Balance  at  end  of  period            29,379,174              2
8,900,574

<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

                           (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  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, 1997 Annual Report on Form 10-K.


1. Organization

Dean  Witter  World  Currency Fund L.P. is a limited  partnership

organized  to  engage  in the speculative  trading  of  commodity

futures   contracts,  commodity  options  contracts  and  forward

contracts   on   foreign   currencies   (collectively,   "futures

interests").    The   general  partner  is   Demeter   Management

Corporation  ("Demeter").  The non-clearing commodity  broker  is

Dean  Witter Reynolds Inc. ("DWR"), with an unaffiliated clearing

commodity broker, Carr Futures Inc. ("Carr"), providing  clearing

and  execution  services.  Both Demeter and DWR are  wholly-owned

subsidiaries  of  Morgan  Stanley Dean  Witter  &  Co.  ("MSDW").

Demeter  has  retained John W. Henry & Company, Inc. ("JWH")  and

Millburn  Ridgefield Corporation as the trading advisors  of  the

Partnership.



2.  Related Party Transactions

The  Partnership's  cash  is on deposit  with  DWR  and  Carr  in

commodity trading accounts to meet margin requirements as needed.

                                

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

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.



3.  Financial Instruments

The  Partnership  trades commodity futures, options  and  forward

contracts  on foreign currencies.  Futures, options 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 June 30,

1998 and December 31, 1997, open contracts were:

                                 Contract or Notional Amount
                              June 30, 1998   December 31, 1997
                                    $                  $
Off-Exchange-Traded
 Forward Currency Contracts
   Commitments to Purchase     125,628,000        56,832,000
   Commitments to Sell         184,064,000       114,502,000


A  portion of the amounts indicated as off-balance-sheet risk  in

forward   currency   contracts  is  due  to  offsetting   forward

commitments to purchase and to sell the same currency on the same

date in the future.  These commitments are economically







<PAGE>
              DEAN WITTER WORLD CURRENCY FUND L.P.
            NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                                
                                
offsetting,  but are not offset in the forward market  until  the

settlement date.

                                
The  net  unrealized gains on open contracts are  reported  as  a

component  of  "Equity in Commodity futures trading accounts"  on

the  Statements of Financial Condition and totaled  $664,184  and

$775,529 at June 30, 1998 and December 31, 1997, respectively.



Of the $664,184 net unrealized gain on open contracts at June 30,

1998,  $13,493  related to exchange-traded futures contracts  and

$650,691   related   to  off-exchange-traded   forward   currency

contracts.



Of the $775,529 net unrealized gain on open contracts at December

31,  1997, $(24,755) related to exchange-traded futures contracts

and  $800,284  related  to off-exchange-traded  forward  currency

contracts.



Exchange-traded futures contracts held by the Partnership at June

30,  1998 and December 31, 1997 mature through September 1998 and

March  1998, respectively.  Off-exchange-traded forward  currency

contracts  held by the Partnership at June 30, 1998 and  December

31,   1997   mature  through  September  1998  and  March   1998,

respectively.





                                

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



The   contract   amounts  in  the  above  table   represent   the

Partnership's  extent  of involvement in a  particular  class  of

financial  instrument, but not the credit  risk  associated  with

counterparty  non-performance.  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 and Carr act  as

the  futures  commission  merchants or the  counterparties,  with

respect  to  most  of the Partnership's assets.   Exchange-traded

futures and futures styled options contracts are marked to market

on  a  daily basis, with variations in value settled on  a  daily

basis.   Each  of DWR and Carr, as a futures commission  merchant

for  the Partnership's exchange-traded futures 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 and futures styled options contracts, including an amount

equal to the net unrealized gains on all open futures and futures

styled  options contracts, which funds, in the aggregate, totaled

$29,392,667  and  $31,303,072 at June 30, 1998 and  December  31,

1997,  respectively.  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

                                

<PAGE>

              DEAN WITTER WORLD CURRENCY FUND L.P.

           NOTES TO FINANCIAL STATEMENTS - (CONCLUDED)


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 Carr, the sole counterparty on all such contracts,

to   perform.   Carr's  parent,  Credit  Agricole  Indosuez,  has

guaranteed  to  the Partnership, payment of the  net  liquidating

value of the transactions in the Partnership's account with  Carr

(including foreign currency contracts).



For  the  six  months  ended June 30, 1998  and  the  year  ended

December   31,   1997,  the  average  fair  value  of   financial

instruments held for trading purposes was as follows:

                                            June 30, 1998
                                       Assets        Liabilities
                                         $                $

Exchange-Traded Contracts
  Options on Financial Futures        12,058,000          -
Off-Exchange-Traded Forward
 Currency Contracts                  144,891,000     175,890,000


                                           December 31, 1997
                                       Assets         Liabilities
                                         $                 $

Exchange-Traded Contracts
  Financial Futures                    6,501,000      19,214,000
Off-Exchange-Traded Forward
 Currency Contracts                  130,462,000     152,556,000






<PAGE>
Item   2.  MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF  FINANCIAL
CONDITION AND RESULTS OF OPERATIONS


Liquidity - The Partnership's assets are deposited with  DWR,  as

non-clearing broker and with Carr, as clearing broker in separate

futures   interest  trading  accounts,  and  are  used   by   the

Partnership  as  margin  to engage in futures  interest  trading.

Such assets are held in either non-interest bearing bank accounts

or  in securities approved by the CFTC for investment of customer

funds.  The Partnership's assets held by DWR and Carr may be used

as  margin  solely  for  the Partnership's  trading.   Since  the

Partnership's  sole purpose is to trade in futures interests,  it

is expected that the Partnership will continue to own such liquid

assets for margin purposes.



The   Partnership's  investment  in  futures  interests  may   be

illiquid.  If  the price of a futures 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  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

<PAGE>

prevent  the  Partnership from trading in potentially  profitable

markets  or  prevent  the Partnership from  promptly  liquidating

unfavorable  positions  in  such markets  and  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  Units  of

Limited Partnership Interest in the future will affect the amount

of  funds  available  for  investment  in  futures  interests  in

subsequent  periods.   Since they are at the  discretion  of  the

Limited  Partners, it is not possible to estimate the amount  and

therefore, the impact of future redemptions.

                                

Results of Operations

For the Quarter and Six Months Ended June 30, 1998

For  the  quarter  ended June 30, 1998, the Partnership  recorded

total  trading  revenues including interest income of  $2,104,221

and  posted  an increase in Net Asset Value per Unit.   The  most

significant gains were recorded from short positions in the South

African rand held throughout the quarter.  Gains were recorded in

April as this currency weakened versus the U.S. dollar and in May

from a devaluation relative to the U.S. dollar late in the month.

Short  positions in the rand continued to profit as the value  of

the South African rand trended sharply lower relative to the U.S.

dollar  in  June  despite intervention by that country's  central

bank  late  in  the month.  Additional gains were  recorded  from

short Japanese yen positions as the value of the yen fell to a

<PAGE>

seven and a half year low versus the U.S. dollar during May  amid

growing  concerns  regarding the Asian  economic  crisis.   Short

Japanese  yen  positions held during June contributed  additional

profits as the value of the yen decreased versus the U.S.  dollar

despite   coordinated  intervention  by  the  U.S.  and  Japanese

governments  during the third week of June in an effort  to  halt

the  downward  slide  of the yen.  Smaller  currency  gains  were

recorded  from short positions in the Australian and New  Zealand

dollars.   A portion of the Partnership's overall gains  for  the

second quarter was offset by losses recorded from short positions

in  the  German  mark  and Swiss franc  as  the  value  of  these

currencies  strengthened relative to other  world  currencies  in

April  and May.  Transactions involving the German mark continued

to result in losses during June.  Smaller losses were experienced

from long British pound positions held during May as the value of

the  pound decreased relative to the U.S. dollar, and short pound

positions  held  during June as the value of the pound  increased

sharply  during mid-month.  Total expenses for the  three  months

ended  June  30, 1998 were $558,500, resulting in net  income  of

$1,545,721.   The value of an individual Unit in the  Partnership

increased from $975.78 at March 31, 1998 to $1,029.28 at June 30,

1998.



For  the six months ended June 30, 1998, the Partnership recorded

total  trading  revenues including interest income of  $1,981,411

and  posted  an increase in Net Asset Value per Unit.   The  most

significant trading gains were recorded from short South  African

rand positions as its value moved sharply lower relative to the

<PAGE>

U.S.  dollar  during the second quarter.  Additional  gains  were

recorded  from  short Japanese yen positions as the  U.S.  dollar

strengthened  versus the yen during March.   Short  Japanese  yen

positions  continued to profit during the second quarter  as  the

yen  reached  a seven and a half year low relative  to  the  U.S.

dollar  during May and preceded lower until mid-June.  A  portion

of  the  Partnership's overall gains was offset  by  losses  from

trading  the German mark and British pound throughout the  second

quarter.   Smaller currency gains recorded from short  Australian

and   New  Zealand  dollar  positions  also  contributed  to  the

Partnership's  profits  during the first  half  of  1998.   Total

expenses  for the six months ended June 30, 1998 were $1,035,884,

resulting  in net income of $945,527.  The value of an individual

Unit  in  the Partnership increased from $993.79 at December  31,

1997 to $1,029.28 at June 30, 1998.

                                

For the Quarter and Six Months Ended June 30, 1997

For  the  quarter  ended June 30, 1997, the Partnership  recorded

total trading revenues including interest income of $544,654  and

posted  an  increase  in  Net Asset Value  per  Unit.   The  most

significant trading gains were recorded during April  from  short

positions  in  the Japanese yen as the value of the  U.S.  dollar

continued  to strengthen versus the yen.  Additional  gains  were

recorded  in  the  Japanese yen during  June  as  long  positions

profited  from an increase in value relative to the U.S.  dollar.

Trading  gains were also recorded during these same  months  from

transactions  involving the German mark.  Profits  were  recorded

from long positions in the British pound as its value increased

<PAGE>

versus  the U.S. dollar during June.  Smaller gains were recorded

from  transactions involving the Spanish peseta during  June.   A

portion of these gains was offset by losses recorded from trading

the  Swiss  franc  during June as its value  moved  in  a  choppy

pattern.  Smaller losses were experienced from short positions in

the  Singapore dollar as its value moved higher relative  to  the

U.S.  dollar during May and June.  Total expenses for  the  three

months  ended June 30, 1997 were $505,313, generating net  income

of  $39,341.   The value of an individual Unit in the Partnership

increased from $854.20 at March 31, 1997 to $855.28 at  June  30,

1997.



For  the six months ended June 30, 1997, the Partnership recorded

total  trading  revenues including interest income of  $6,744,418

and  posted  an increase in Net Asset Value per Unit.   The  most

significant  trading  gains  were  recorded  during  January  and

February  as  a  strengthening in the value of  the  U.S.  dollar

relative  to  most  other major currencies  emerged.   Additional

gains were recorded from transactions involving the Japanese  yen

and  German  mark  during April and June.  Smaller  profits  were

experienced from short positions in the Singapore dollar  as  its

value  decreased  versus the U.S. dollar during  the  first  four

months of the year.  A small portion of the Partnership's overall

gains  was offset by losses recorded from long positions  in  the

British  pound during January as its value reversed  lower  after

previously trending higher.  Smaller losses were experienced from

transactions  involving  the Australian dollar  during  February,

March and April as its value moved in a trendless pattern.  Total

<PAGE>

expenses  for the six months ended June 30, 1997 were  $1,496,190

resulting  in  net  income  of  $5,248,228.   The  value  of   an

individual  Unit  in the Partnership increased  from  $713.17  at

December 31, 1996 to $855.28 at June 30, 1997.
















































<PAGE>
                                

                   PART II.  OTHER INFORMATION



Item 1.   LEGAL PROCEEDINGS

Previously  reported.  See Form 10-Q for the quarter ended  March

31, 1998.













































<PAGE>


                                




Item 6.   Exhibits and Reports on Form 8-K

               Reports on Form 8-K. - No such reports have been
               filed for the quarter ended June 30, 1998.













































<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)

August  12,  1998                By:  /s/ Lewis A.  Raibley,  III
Lewis A. Raibley, III
                                        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.