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 March 31, 1997 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. 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>
              DEAN WITTER WORLD CURRENCY FUND L.P.

             INDEX TO QUARTERLY REPORT ON FORM 10-Q

                       March 31, 1997

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

     Statements of Financial Condition March 31, 1997
     (Unaudited) and December 31, 1996.....................2

     Statements of Operations for the Quarters Ended
     March 31, 1997 and 1996 (Unaudited)...................3

     Statements of Changes in Partners' Capital for the
        Quarters Ended March 31, 1997 and 1996
     (Unaudited)...........................................4

     Statements of Cash Flows for the Quarters Ended
     March 31, 1997 and 1996 (Unaudited)...................5

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

Item 2. Management's Discussion and Analysis of

Financial Condition and Results of Operations...... ...12-16

Part II. OTHER INFORMATION

Item 1. Legal Proceedings..............................17-18

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


</TABLE>








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

<CAPTION>

                                                March 31,     December 31,
                                                 1997           1996
                                                   $              $
                                              (Unaudited)
ASSETS
<S>                                              <C>           <C>
Equity in Commodity futures trading accounts:
 Cash                                            31,457,573     25,825,801
 Net unrealized gain (loss) on open contracts       (88,023)     1,242,668
 Net option premiums                                      -        230,200

 Total Trading Equity                            31,369,550     27,298,669

Interest receivable (DWR)                           110,044         87,895
Due from DWR                                              -         40,800

 Total Assets                                    31,479,594     27,427,364

LIABILITIES AND PARTNERS' CAPITAL

Liabilities

 Accrued incentive fees                            489,472              -
 Redemptions payable                               465,560        779,025
 Accrued management fees                            76,963         68,410
 Accrued administrative expenses                    40,536         21,908
 Accrued brokerage commissions                      11,880         26,388
 Accrued transaction fees and costs                    705          1,702

 Total Liabilities                               1,085,116        897,433

Partners' Capital

 Limited Partners (34,374.871 and
  35,992.609 Units, respectively)               29,363,026     25,668,776
 General Partner (1,207.506 Units)               1,031,452        861,155

 Total Partners' Capital                        30,394,478     26,529,931

 Total Liabilities and Partners' Capital        31,479,594     27,427,364



NET ASSET VALUE PER UNIT                           854.20          713.17

        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 March 31,

                                         1997            1996
                                          $            $
REVENUES
<S>                                   <C>               <C>
 Trading profit (loss):
    Realized                           7,226,184       118,505
    Net change in unrealized          (1,330,691)      468,301

      Total Trading Results            5,895,493       586,806

 Interest Income (DWR)                   304,271      305,303

      Total Revenues                   6,199,764      892,109

EXPENSES

 Incentive fees                          489,505          -
 Brokerage commissions (DWR)             235,860     281,111
 Management fees                         231,664     234,967
 Administrative expenses                  18,628      19,852
 Transaction fees and costs               15,220      18,412

    Total Expenses                       990,877     554,342

NET INCOME                             5,208,887     337,767


NET INCOME ALLOCATION

 Limited Partners                      5,038,590    330,403
 General Partner                         170,297      7,364

NET INCOME PER UNIT

Limited Partners                         141.03        6.10
General Partner                          141.03        6.10

        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 Quarters Ended March 31, 1997 and 1996
                          (Unaudited)



<CAPTION>

                          Units of
                        Partnership Limited   General
                          Interest   Partners Partner    Total
<S>                     <C>           <C>            <C>        <C>
Partners' Capital,
 December 31, 1995       48,308.363    $29,734,237    $762,285   $30,496,522

Net Income                        -        330,403       7,364       337,767

Redemptions              (2,385.715)    (1,563,775)         -     (1,563,775)

Partners' Capital,
 March 31, 1996          45,922.648    $28,500,865    $769,649   $29,270,514




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

Net Income                      -        5,038,590     170,297     5,208,887

Redemptions              (1,617.738)    (1,344,340)          -    (1,344,340)

Partners' Capital,
 March 31, 1997          35,582.377    $29,363,026  $1,031,452   $30,394,478






         The accompanying footnotes 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 Quarters Ended March 31,

                                                            1997        1996
                                                             $           $
CASH FLOWS FROM OPERATING ACTIVITIES
<S>                                                       <C>         <C>
Net income                                                5,208,887    337,767
Noncash item included in net income:
      Net  change  in  unrealized                         1,330,691   (468,301)

(Increase)decrease in operating assets:
    Net option premiums                                     230,200   (577,749)
    Interest receivable                                     (22,149)    13,737
    Receivable from DWR                                      40,800          -

Increase (decrease) in operating liabilities:
    Accrued incentive fees                                  489,472          -
    Accrued management fees                                   8,553     (3,980)
    Accrued administrative expenses                          18,628    (84,717)
    Accrued brokerage commissions (DWR)                     (14,508)       828
    Accrued transaction fees and costs                         (997)       141

Net  cash  provided  by (used for) operating  activities   7,289,577  (782,274)


CASH FLOWS FROM FINANCING ACTIVITIES

   Decrease in redemptions payable                          (313,465)   (361,388)
   Redemption  of  units                                  (1,344,340) (1,563,775)

Net  cash  used  for  financing  activities               (1,657,805) (1,925,163)


Net  increase  (decrease) in cash                          5,631,772  (2,707,437)

Balance at beginning of period                            25,825,801  31,916,332

Balance at end of period                                  31,457,573  29,208,895


        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, 1996 Annual Report on Form 10K.


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  ("Demeter").  The commodity broker  is  Dean  Witter

Reynolds  Inc.  ("DWR").  Both Demeter and DWR are  wholly  owned

subsidiaries of Dean Witter, Discover & Co. ("DWD").  Demeter has

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

Ridgefield   Corporation   as  the  trading   advisors   of   the

Partnership.





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



2.  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.


3.  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  March  31,  1997  and

December 31, 1996, open contracts were:







<PAGE>

                                

              DEAN WITTER WORLD CURRENCY FUND L.P.
            NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                                
                                
                                
                               Contract or Notional Amount
                            March 31, 1997  December 31, 1996
                                    $                $
Exchange-Traded Contracts
 Financial Futures:
   Commitments to Purchase        819,000        8,348,000
   Commitments to Sell         30,350,000       64,040,000
Off-Exchange-Traded
 Forward Currency Contracts
   Commitments to Purchase     90,678,000      111,517,000
   Commitments to Sell         99,186,000      131,009,000

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

offsetting,  but are not offset in the forward market  until  the

settlement date.



The net unrealized gain (loss) on open contracts is reported as a

component  of  "Equity in Commodity futures trading accounts"  on

the  Statement  of Financial Condition and totaled $(88,023)  and

$1,242,668 at March 31, 1997 and December 31, 1996, respectively.

Of  the $(88,023) net unrealized loss on open contracts at  March

31, 1997, $65,884 related to exchange-traded futures contracts

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


and  $(153,907)  related to off-exchange-traded forward  currency

contracts.   Of  the  $1,242,668  net  unrealized  gain  on  open

contracts  at December 31, 1996, $1,289,462 related to  exchange-

traded  futures contracts and $(46,794) related to  off-exchange-

traded forward currency contracts.



Exchange-traded  futures contracts held  by  the  Partnership  at

March 31, 1997 and December 31, 1996 mature through June 1997 and

March  1997, respectively.  Off-exchange-traded forward  currency

contracts held by the Partnership at March 31, 1997 and  December

31,  1996  mature through June 1997 and March 1997, respectively.

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


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


options  contracts  are marked to market on a daily  basis,  with

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 gains on all open futures contracts

which funds totaled $31,523,457 and $27,115,263 at March 31, 1997

and  December  31,  1996,  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 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 of such contracts, to perform.

                                

                                

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



For  the quarter ended March 31, 1997 and the year ended December

31,  1996,  the average fair value of financial instruments  held

for trading purposes was as follows:

                                             March 31, 1997
                                       Assets        Liabilities
                                         $                $

Exchange-Traded Contracts
  Futures Contracts                    1,665,000      39,707,000
Off-Exchange-Traded Forward
 Currency Contracts                  116,331,000     136,042,000


                                            December 31, 1996
                                       Assets         Liabilities
                                         $                 $

Exchange-Traded Contracts
  Futures Contracts                   11,267,000      36,511,000
  Options on Financial Futures        31,535,000               -
Off-Exchange-Traded Forward
 Currency Contracts                  150,360,000     162,534,000



                                
                                










<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 and  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 interest 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



<PAGE>

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.



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  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  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.



<PAGE>

Results of Operations

For the Quarter Ended March 31, 1997

For  the  quarter  ended March 31, 1997, the Partnership's  total

trading  revenues  including  interest  income  were  $6,199,764.

During  the first quarter, the Partnership posted an increase  in

Net  Asset  Value per Unit.  The most significant  trading  gains

were  recorded during January as a strengthening in the value  of

the  U.S. dollar relative to most major world currencies emerged.

As  a  result,  gains were recorded from short positions  in  the

Japanese  yen, German mark and both the Swiss and French  francs.

In  February, a continued upward trend in the value of  the  U.S.

dollar   resulted   in   additional  currency   gains   for   the

Partnership's short positions in most major European  currencies,

as  well as in the Japanese yen and Singapore dollar.  In  March,

the  previous upward move in the value of the U.S. dollar  failed

to  continue  versus  major European currencies.   As  a  result,

losses were experienced from short positions in the German  mark,

Swiss  franc, Italian lira and French franc.  A portion of  these

losses  was offset by gains recorded from short positions in  the

Singapore dollar as its value continued to move lower versus  the

U.S.  dollar  during March.  Total expenses for the  period  were

$990,877, generating net income of $5,208,887.  The value  of  an

individual Unit in the Partnership

<PAGE>

increased from $713.17 at December 31, 1996 to $854.20  at  March

31, 1997.



For the Quarter Ended March 31, 1996

For  the  quarter  ended March 31, 1996, the Partnership's  total

trading revenues including interest income were $892,109.  During

the  first  quarter, the Partnership posted an  increase  in  Net

Asset  Value per Unit.  The most significant trading  gains  were

recorded in this currency-only Partnership during January as  the

value  of  the Japanese yen moved lower in relation to  the  U.S.

dollar.   As  a result, the Partnership's previously  established

short  yen  positions  profited.   Significant  gains  were  also

recorded from short positions in the Swiss franc, German mark and

British  pound as the value of these currencies also moved  lower

during the month.  In February, the previous downward move in the

value  of  the  Japanese yen and most major  European  currencies

failed to

continue  and a sharp increase in value followed.  As  a  result,

losses  were  recorded from transactions involving  the  Japanese

yen, German mark and both Swiss and French francs.  The value  of

most  major European currencies continued to move slightly higher

during March resulting in additional losses for the Partnership's

short  European currency positions.  However, the losses recorded

during

<PAGE>

March  were offset by trading gains recorded from short  Japanese

yen  positions and long Australian dollar positions as the  value

of  the yen moved lower, while the value of the Australian dollar

moved  higher  in  relation  to other  world  currencies.   Total

expenses  for the period were $554,342, generating net income  of

$337,767.   The  value of an individual Unit in  the  Partnership

increased from $631.29 at December 31, 1995 to $637.39  at  March

31, 1996.


<PAGE>
                                
                   PART II.  OTHER INFORMATION

Item 1.   LEGAL PROCEEDINGS

On  September 6, 10, and 20, 1996, and on March 13, 1997, 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, Demeter, Dean Witter

Futures  &  Currency  Management, Inc.,  DWD  (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 (including JWH) to those pools.  Similar purported class

actions  were  also filed on September 18 and  20,  1996  in  the

Supreme Court of the State of New York, New York County,  and  on

November 14, 1996 in the Superior Court of the State of Delaware,

New  Castle  County, against the Dean Witter Parties and  certain

trading  advisors (including JWH) on behalf of all purchasers  of

interests   in   various  limited  partnership  commodity   pools

including  the  Partnership,  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

<PAGE>

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

have  strong  defenses  to,  and they and  the  Partnership  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 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)

May 13, 1997                   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.