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, 1999 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

                       September 30, 1999
<CAPTION>

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

     Statements of Financial Condition September 30, 1999
     (Unaudited) and December 31, 1998..........................2

     Statements of Operations for the Quarters Ended
     September 30, 1999 and 1998 (Unaudited)....................3

     Statements of Operations for the Nine Months Ended
     September 30, 1999 and 1998 (Unaudited)....................4

     Statements of Changes in Partners' Capital for the
        Nine Months Ended September 30, 1999 and 1998
     (Unaudited)................................................5

     Statements of Cash Flows for the Nine Months Ended
     September 30, 1999 and 1998 (Unaudited)....................6

        Notes to Financial Statements (Unaudited).............. 7-
     10

Item 2. Management's Discussion and Analysis of

Financial Condition and Results of Operations...... 11-19

Item 3. Quantitative and Qualitative Disclosures about
        Market Risk.......................................  20-28

Part II. OTHER INFORMATION

Item 1. Legal Proceedings..................................... 29

Item 6. Exhibits and Reports on Form 8-K...................... 29



</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,
                                        1999           1998
                                         $              $
                                    (Unaudited)
ASSETS
<S>                               <C>              <C>
Equity in futures interests trading accounts:
 Cash                            21,987,453      26,130,701
 Net unrealized loss on open contracts   (156,813)  (1,101,440)

      Total Trading Equity       21,830,640      25,029,261

Interest receivable (DWR)            69,764              76,126
Due from DWR                          6,524               -

      Total Assets               21,906,928      25,105,387


LIABILITIES AND PARTNERS' CAPITAL

Liabilities

 Redemptions payable                347,673         248,498
 Accrued management fees             54,684           62,749
 Accrued administrative expenses         33,479           5,977

      Total Liabilities             435,836         317,224

Partners' Capital

 Limited Partners (21,292.077 and
  25,297.735 Units, respectively)21,160,517      24,485,689
 General Partner (312.506 Units)       310,575        302,474

 Total Partners' Capital         21,471,092      24,788,163

  Total  Liabilities and Partners' Capital   21,906,928     25,10

5,387


NET ASSET VALUE PER UNIT            993.82             967.90

<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 Sepember 30,

                                       1999            1998
                                        $            $
REVENUES
<S>                          <C>             <C>
 Trading profit (loss):
    Realized                     (677,771)   (1,346,449)
    Net change in unrealized      445,032       663,103

      Total Trading Results      (232,739)    (683,346)

 Interest Income (DWR)            214,037             271,614

      Total Revenues             (18,702)      (411,732)

EXPENSES

 Brokerage commissions (DWR)      268,861      277,920
 Management fees                  164,635      215,853
 Transaction fees and costs        15,095       18,670
 Administrative expenses           14,938          18,337

      Total Expenses              463,529        530,780

NET LOSS                         (482,231)    (942,512)


NET LOSS ALLOCATION

                         Limited                         Partners
(475,766)                          (903,661)
                          General                         Partner
(6,465)                            (38,851)

NET LOSS PER UNIT

                         Limited                         Partners
(20.69)                                  (32.18)
                          General                         Partner
(20.69)                       (32.18)
<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 Nine Months Ended September 30,

                                       1999            1998
                                        $            $
REVENUES
<S>                              <C>           <C>
 Trading profit:
    Realized                         434,576    153,729
    Net change in unrealized         944,627    551,758

      Total Trading Results        1,379,203    705,487

 Interest Income (DWR)               651,236    864,192

      Total Revenues               2,030,439    1,569,679

EXPENSES

 Brokerage commissions (DWR)         709,931    797,770
 Management fees                     533,726    665,534
    Administrative   expenses                45,822        55,583
Transaction fees and costs            37,772     47,777

    Total Expenses                 1,327,251  1,566,664

NET INCOME                           703,188         3,015


NET INCOME ALLOCATION

                         Limited                         Partners
695,087                              (988)                General
Partner
8,101                              4,003

NET INCOME PER UNIT

                         Limited                         Partners
25.92
3.31
                           General                        Partner
25.92                                      3.31

<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, 1999 and 1998
                          (Unaudited)


<CAPTION>


                          Units of
                        Partnership Limited   General
                          Interest   Partners Partner    Total

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

Net Income             -                      (988)      4,003        3,015

Redemptions           (4,919.012)          (3,909,035)             (892,405)
(4,801,440)

Partners' Capital,
 September 30, 1998  27,154.327            $26,764,006           $311,600
$27,075,606





Partners' Capital,
 December 31, 1998   25,610.241            $24,485,689           $302,474
$24,788,163

Net Income               -                 695,087       8,101        703,188
Redemptions           (4,005.658)            (4,020,259)                  -
(4,020,259)

Partners' Capital,
  September 30, 1999  21,604.583            $21,160,517    $310,5
75                               $21,471,092




<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,

                                       1999            1998
                                        $            $
CASH FLOWS FROM OPERATING ACTIVITIES
<S>                            <C>                       <C>
Net income                          703,188              3,015
Noncash item included in net income:
      Net  change  in  unrealized        (944,627)              (
551,758)

(Increase) decrease in operating assets:
    Interest receivable (DWR)        6,362               21,941
    Due from DWR                    (6,524)              -
    Net option premiums               -                  49,687

Increase (decrease) in operating liabilities:
     Accrued management fee          (8,065)              (9,577)
Accrued        administrative        expenses              27,502
55,578

Net    cash    used   for   operating   activities      (222,164)
(431,114)


CASH FLOWS FROM FINANCING ACTIVITIES

 Increase in redemptions payable    99,175               977,105
       Redemptions      of      units                 (4,020,259)
(4,801,440)

Net    cash    used   for   financing   activities    (3,921,084)
(3,824,335)


Net   decrease  in  cash             (4,143,248)                (
4,255,449)

Balance      at      beginning     of     period       26,130,701
31,327,827

Balance      at      end     of     period             21,987,453
27,072,378


<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, 1998 Annual Report on Form 10-K.



1.  Organization

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

organized  to  engage  primarily in the  speculative  trading  of

commodity  futures,  options  and forward  contracts  on  foreign

currencies  (collectively,  "futures  interests").   The  general

partner  for  the  Partnership is Demeter Management  Corporation

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

Reynolds  Inc.  ("DWR")  and an unaffiliated  clearing  commodity

broker,  Carr  Futures  Inc.  ("Carr"),  provides  clearing   and

execution  services.   Both  Demeter  and  DWR  are  wholly-owned

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

W.  Henry & Company and Millburn Ridgefield Corporation  are  the

trading advisors (the "Trading Advisors") to the Partnership.



2.  Related Party Transactions

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

interests 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. The Partnership pays brokerage commissions

to DWR.



3.  Financial Instruments

The Partnership trades futures, options 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.



In  June  1998, the Financial Accounting Standards  Board  issued

Statement  of  Financial Accounting Standard  ("SFAS")  No.  133,

"Accounting  for  Derivative Instruments and Hedging  Activities"

effective  for fiscal years beginning after June 15,  1999.   The

Partnership  elected  to adopt the provisions  of  SFAS  No.  133

beginning  with  the  fiscal year that ended December  31,  1998.

SFAS  No. 133 supersedes SFAS No. 119 and No. 105, which required

the   disclosure   of   average   aggregate   fair   values   and

contract/notional  values, respectively, of derivative  financial

instruments for an







<PAGE>

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




entity  which carries its assets at fair value.  The  application

of  SFAS  No.  133  does  not have a significant  effect  on  the

Partnership's financial statements.



The  net  unrealized  loss on open contracts  is  reported  as  a

component  of  "Equity in futures interests trading accounts"  on

the  Statements of Financial Condition and totaled  $156,813  and

$1,101,440  at  September  30,  1999  and  December   31,   1998,

respectively.



The  net  unrealized  losses on open  contracts  of  $156,813  at

September 30, 1999 and $1,101,440 at December 31, 1998 related to

off-exchange-traded forward currency contracts.



Off-exchange-traded  forward  currency  contracts  held  by   the

Partnership  at September 30, 1999 and December 31,  1998  mature

through December 1999 and March 1999, respectively.



The  Partnership  is subject to the credit risk  associated  with

counterparty  non-performance.  The credit risk  associated  with

the  instruments in which the Partnership is involved is  limited

to  the  amounts  reflected  in the Partnership's  Statements  of

Financial  Condition.  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

<PAGE>

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


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 all of the  Partner-

ship'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 gain on all open futures and futures-styled

options   contracts,  which  funds,  in  the  aggregate,  totaled

$21,987,453  and $26,130,701 at September 30, 1999  and  December

31, 1998, 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 Carr, the

sole  counterparty on all of 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).



<PAGE>

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



Liquidity -  Assets of the Partnership are deposited with DWR  as

non-clearing  broker  and  Carr as clearing  broker  in  separate

futures interest trading accounts. 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, from time

to time, be illiquid.  Most United States futures exchanges limit

fluctuations in certain futures interest prices during  a  single

day  by  regulations  referred to as  "daily  price  fluctuations

limits" or "daily limits".  Pursuant to such regulations,  during

a  single trading day no trades may be executed at prices  beyond

the  daily limit.  If the price for a particular futures interest

has increased or decreased by an amount equal to the daily limit,

positions  in  such  futures interest can neither  be  taken  nor

liquidated  unless  traders are willing to effect  trades  at  or

within  the  limit.   Futures interests 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 futures interests and  result  in

restrictions on redemptions.

<PAGE>

There  is  no limitation on daily price moves in trading  forward

contracts  on  foreign  currency.  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  from  promptly  liquidating  unfavorable  positions,

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.  Future redemptions of  Units

of  Limited  Partnership  Interest ("Unit(s)")  will  affect  the

amount of funds available for investment in futures interests  in

subsequent periods.  Since they are at the discretion of  Limited

Partners,  it  is  not  possible  to  estimate  the  amount   and

therefore, the impact of future redemptions of Units.



Results of Operations

For the Quarter and Nine Months Ended September 30, 1999

For  the  quarter  ended  September  30,  1999,  the  Partnership

recorded  total trading losses net of interest income of  $18,702

and  posted  a  decrease in Net Asset Value per  Unit.  The  most

significant  losses  were experienced from trading  the  European

common  currency, the euro, and the Swiss franc.  Short positions

in  these currencies resulted in losses earlier in the quarter as

their values strengthened versus the U.S. dollar due to a better-

than-expected German business sentiment survey and a record  U.S.

trade deficit. Losses were recorded during August and September



<PAGE>

from  long positions in the euro and Swiss franc as the value  of

the  U.S.  dollar rallied higher versus most major currencies  on

August  23 amid a rally in U.S. stock prices and on September  10

after  an  intervention by the Bank of Japan.  As a  result,  new

short  positions  were established in these  currencies  only  to

result  in additional losses as their values strengthened  versus

the  dollar  during the latter half of September after  the  U.S.

trade  figures  reflected a record deficit.   During  July,  long

British  pound positions experienced losses as the value  of  the

pound  weakened  versus  the  U.S.  dollar  on  concerns   of   a

disappearance in the interest rate differential between the  U.K.

and  the  U.S.  and continued economic sluggishness  in  Britain.

Newly  established short pound positions resulted  in  additional

losses as the pound's value rose versus the U.S. dollar later  in

July  after  revised first quarter GDP figures  showed  that  the

British economy grew faster than had previously been expected.  A

portion  of  these losses was offset by gains recorded throughout

the  quarter from long Japanese yen positions as the value of the

yen strengthened versus the U.S. dollar on positive economic data

out  of that country and optimism regarding the Japanese economy.

Despite an intervention by the Bank of Japan to prevent the yen's

recent  rise from continuing, the yen climbed to a 44-month  high

versus  the U.S. dollar during September after the Bank of  Japan

decided  to  leave  that  country's  monetary  policy  unchanged.

Smaller gains were recorded from short Thai baht positions as the

value of the Thai baht fell to a new 12-month low versus the U.S.

dollar following lower-than-expected second quarter GDP data out



<PAGE>

of  Thailand, the earthquakes in Taiwan and comments on the  Thai

economy  by  various cabinet ministers.  Total expenses  for  the

three months ended September 30, 1999 were $463,529, resulting in

a  net  loss  of  $482,231.  The value of a Unit  decreased  from

$1,014.51 at June 30, 1999 to $993.82 at September 30, 1999.



For  the  nine  months ended September 30, 1999, the  Partnership

recorded  total  trading revenues including  interest  income  of

$2,030,439 and posted an increase in Net Asset Value per Unit.

The most significant gains were recorded throughout a majority of

the  first half of the year from short positions in the  euro  as

the  value  of the European common currency declined relative  to

the  U.S.  dollar  on the strength of the U.S. economy,  concerns

pertaining to the economic health of Europe and Japan and growing

uncertainty  about  the military action in  Yugoslavia.   Smaller

gains  were recorded from short Thai baht positions as the  value

of  the  Thai  baht fell to a new 12-month low  versus  the  U.S.

dollar following lower-than-expected second quarter GDP data  out

of  Thailand, the earthquakes in Taiwan and comments on the  Thai

economy   by  various  cabinet  ministers.  A  portion   of   the

Partnership's overall gains was offset by losses experienced from

long  British pound positions as the value of the pound  weakened

versus  the  U.S. dollar during late March when a member  of  the

Bank  of  England's  Monetary  Policy  committee  said  that   he

confidently  expected Britain to switch from  the  pound  to  the

European Union's single currency, the euro.  During July,  losses

were  recorded  in  this  market from  long  pound  positions  on

concerns of a disappearance in the interest rate differential

<PAGE>

between the U.K. and the U.S. and continued economic sluggishness

in  Britain.   Newly  established short British  pound  positions

resulted  in  additional losses during the third quarter  as  the

pound's  value  rose versus the U.S. dollar later in  July  after

revised first quarter GDP figures showed that the British economy

grew  faster  than had previously been expected.  Smaller  losses

were incurred during January and March from short Norwegian krone

positions as its value strengthened versus the U.S. dollar due to

a  rise  in oil prices and the possibility that this Scandinavian

currency  could  be linked to the euro sometime  in  the  future.

Total expenses for the nine months ended September 30, 1999  were

$1,327,251, resulting in net income of $703,188.  The value of  a

Unit  increased from $967.90 at December 31, 1998 to  $993.82  at

September 30, 1999.



For the Quarter and Nine Months Ended September 30, 1998

For  the  quarter  ended  September  30,  1998,  the  Partnership

recorded  total trading losses net of interest income of $411,732

and  posted  a  decrease in Net Asset Value per Unit.   The  most

significant   losses  were  recorded  from  long  British   pound

positions as its value moved lower versus the U.S. dollar  during

July after showing signs of trending higher earlier in the month.

Losses  continued to be recorded throughout the remainder of  the

quarter  from  transactions involving the British  pound  as  its

value continued to move without consistent direction.  Additional

losses were incurred from short Japanese yen positions during





<PAGE>

August  and September as the value of the yen strengthened versus

the U.S. dollar.  This increase in the yen was spurred by several

remarks  from a top finance official in Tokyo stating that  Japan

was  close  to  intervening in order to support the  yen.   As  a

result  of  this  increase in the yen, new  long  positions  were

established  during mid-September, only to result  in  additional

losses  as the value of the yen reversed lower due to the failure

of  the Japanese government to present any new initiatives toward

economic  reform in that country.  Smaller losses  were  recorded

from transactions involving the Australian dollar during July and

September.  These losses were partially offset by gains  recorded

during  September  from long German mark positions  as  the  U.S.

dollar weakened relative to most European currencies due to fears

over  the  White House scandal, continued concerns about emerging

markets  and anticipation of an interest rate cut by the  Federal

Reserve.   Additional  currency gains  were  recorded  from  long

positions  in  the  French franc as its value  also  strengthened

versus the U.S. dollar during September.  Total expenses for  the

three months ended September 30, 1998 were $530,780, resulting in

a  net  loss  of  $942,512.  The value of a Unit  decreased  from

$1,029.28 at June 30, 1998 to $997.10 at September 30, 1998.



For  the  nine  months ended September 30, 1998, the  Partnership

recorded  total  trading revenues including  interest  income  of

$1,569,679  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



<PAGE>

to the U.S. dollar during the second quarter despite an effort by

the  South  African  government  to  prevent  its  currency  from

declining  further.  Profits were also recorded from  short  rand

positions  during August as many of the world's  emerging  market

currencies weakened significantly against the U.S. dollar in lieu

of the Russian ruble devaluation.  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 throughout the second quarter and early  half

of  the third quarter as the yen reached a seven and a half  year

low  relative  to the U.S. dollar.  Smaller gains  were  recorded

from  short positions in the New Zealand dollar during the  first

half  of 1998.  A portion of the Partnership's overall gains  was

offset  by  losses from trendless movement in the  value  of  the

British  pound relative to the U.S. dollar during the second  and

third  quarters.  Smaller losses were recorded from  short  Swiss

franc positions as the value of this currency strengthened versus

the  U.S. dollar during April, May and July.  Total expenses  for

the  nine  months  ended  September  30,  1998  were  $1,566,664,

resulting in net income of $3,015.  The value of a Unit increased

from  $993.79  at December 31, 1997 to $997.10 at  September  30,

1998.



Year  2000 Problem.  Commodity pools, like financial and business

organizations  and individuals around the world,  depend  on  the

smooth functioning of computer systems.  Many computer systems in

use  today cannot recognize the computer code for the year  2000,

but revert to 1900 or some other date.  This is commonly known as

<PAGE>

the  "Year  2000  Problem". The Partnership  could  be  adversely

affected  if computer systems used by it or any third party  with

whom  it has a material relationship do not properly process  and

calculate date-related information and data concerning  dates  on

or  after January 1, 2000.  Such a failure could adversely affect

the  handling or determination of futures trades and  prices  and

other services.



MSDW  began its planning for the Year 2000 Problem in  1995,  and

currently  has several hundred employees working on  the  matter.

It  has developed its own Year 2000 compliance plan to deal  with

the  problem and had the plan approved by the company's executive

management,   Board  of  Directors  and  Information   Technology

Department. Demeter is coordinating with MSDW to address the Year

2000  Problem  with  respect to Demeter's computer  systems  that

affect  the  Partnership.  This includes  hardware  and  software

upgrades, systems consulting and computer maintenance.



Beyond  the  challenge  facing  internal  computer  systems,  the

systems  failure  of  any  of the third  parties  with  whom  the

Partnership  has a material relationship - the futures  exchanges

and  clearing organizations through which it trades, Carr, or the

Trading  Advisors - could result in a material financial risk  to

the  Partnership.  All  U.S. futures  exchanges  are  subject  to

monitoring  by the CFTC of their Year 2000 preparedness  and  the

major  foreign futures exchanges are also expected to be  subject

to market-wide testing of their Year 2000 compliance during 1999.

Demeter intends to monitor the progress of Carr and the Trading

<PAGE>

Advisors throughout 1999 in their Year 2000 compliance and, where

applicable,  to  test its external interface with  Carr  and  the

Trading Advisors.



A  worst case scenario would be one in which trading of contracts

on  behalf  of the Partnership becomes impossible as a result  of

the  Year 2000 problem encountered by any third parties.  A  less

catastrophic  but  more likely scenario would  be  one  in  which

trading  opportunities diminish as a result of technical problems

resulting  in  illiquidity  and  fewer  opportunities   to   make

profitable trades. MSDW has begun developing various "contingency

plans" in the event that the systems of such third parties  fail.

Demeter  intends  to  consult closely with MSDW  in  implementing

those  plans.  Despite the best efforts of both Demeter and MSDW,

however,  it is possible that these steps will not be  sufficient

to avoid any adverse impact to the Partnership.


Risks  Associated  With  the Euro.  On January  1,  1999,  eleven

countries  in  the  European Union established  fixed  conversion

rates on their existing sovereign currencies and converted  to  a

common   single  currency  (the  "euro").   During  a  three-year

transition  period,  the sovereign currencies  will  continue  to

exist  but  only as a fixed denomination of the euro.  Conversion

to the euro prevents the Trading Advisors from trading in certain

currencies and thereby limits their ability to take advantage  of

potential market opportunities that might otherwise have  existed

had  separate  currencies been available  to  trade.  This  could

adversely affect the performance results of the Partnership.

<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 interests.  The market  sensitive

instruments  held  by  the Partnership are  acquired  solely  for

speculative   trading  purposes  and,  as  a   result,   all   or

substantially all of the Partnership's assets are subject to  the

risk  of trading loss.  Unlike an operating company, the risk  of

market sensitive instruments is integral, not incidental, to  the

Partnership's primary business activities.



The  futures interests traded by the Partnership involve  varying

degrees  of  related  market risk.  Such  market  risk  is  often

dependent  upon  changes in the level or volatility  of  interest

rates,   exchange  rates,  and/or  market  values  of   financial

instruments and commodities.  Fluctuations in related market risk

based upon the aforementioned factors result in frequent changes

in  the  fair  value  of the Partnership's open  positions,  and,

consequently, in its earnings and cash flow.



The  Partnership's  total market risk is  influenced  by  a  wide

variety  of factors, including the diversification effects  among

the Partnership's existing open positions, the volatility present

within  the  market(s), and the liquidity of the  market(s).   At

varying  times,  each of these factors may act to  exacerbate  or

mute the market risk associated with the Partnership.





<PAGE>

The  Partnership's past performance is not necessarily indicative

of   its   future   results.  Any  attempt  at  quantifying   the

Partnership's  market  risk  must be qualified  by  the  inherent

uncertainty  of its speculative trading, which may  cause  future

losses and volatility (i.e. "risk of ruin") far in excess of  the

Partnership's   experience   to  date   and/or   any   reasonable

expectation premised upon historical changes in the fair value of

its market sensitive instruments.



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.  As such, any loss in the fair

value  of  the Partnership's open positions is directly reflected

in  the  Partnership's earnings, whether realized or  unrealized,

and  the  Partnership's cash flow, as profits and losses on  open

positions of exchange-traded futures interests are settled  daily

through variation margin.

<PAGE>

The  Partnership's  risk exposure in the various  market  sectors

traded  by  the Trading Advisors is estimated below in  terms  of

Value  at Risk ("VaR"). The VaR model employed by the Partnership

incorporates numerous variables that could impact the fair  value

of   the   Partnership's  trading  portfolio.   The   Partnership

estimates VaR using a model based on historical simulation with a

confidence   level   of  99%.   Historical  simulation   involves

constructing  a  distribution of hypothetical  daily  changes  in

trading  portfolio  value.  The VaR model  generally  takes  into

account linear exposures to price and interest rate risk.  Market

risks  that are incorporated in the VaR model include equity  and

commodity prices, interest rates, foreign exchange rates, as well

as   correlation   that  exists  among  these   variables.    The

hypothetical  changes  in  portfolio value  are  based  on  daily

observed percentage changes in key market indices or other market

factors  ("market  risk  factors")  to  which  the  portfolio  is

sensitive.   In the case of the Partnership's VaR, the historical

observation   period   is   approximately   four   years.     The

Partnership's one-day 99% VaR corresponds to the negative  change

in  portfolio  value that, based on observed market  risk  factor

moves, would have been exceeded once in 100 trading days.



VaR models such as the Partnership's are continually evolving  as

trading  portfolios  become more diverse and modeling  techniques

and systems capabilities improve.  It must also be noted that the

VaR model is used to quantify market risk for historic reporting





<PAGE>

purposes  only  and  is  not utilized by either  Demeter  or  the

Trading Advisors in their daily risk management activities.



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 market category as of September 30, 1999.  As of September 30,

1999,  the  Partnership's total capitalization was  approximately

$21 million.

     Primary Market            September 30, 1999
     Risk Category              Value at Risk

     Currency                       (3.26)%

     Aggregate Value at Risk        (3.26)%


The  table  above  represents the VaR of the  Partnership's  open

positions  at  September  30, 1999 only and  is  not  necessarily

representative  of  either the historic  or  future  risk  of  an

investment  in  the  Partnership.   As  the  Partnership's   sole

business   is  the  speculative  trading  of  primarily   futures

interests, the composition of its portfolio of open positions can

change significantly over any given time period or even within  a

single  trading  day.   Such  changes  in  open  positions  could

materially   impact  market  risk  as  measured  by  VaR   either

positively or negatively.



The table below supplements the quarter-end VaR by presenting the

Partnership's high, low and average VaR as a percentage of  total

Net  Assets for the four quarterly reporting periods from October

1, 1998 through September 30, 1999.

<PAGE>

Primary Market Risk Category        High       Low     Average

Currency                           (4.30)%    (1.41)%  (3.08)%

Aggregate Value at Risk            (4.30)%    (1.41)%  (3.08)%


Limitations on Value at Risk as an Assessment of Market Risk

The  face  value  of the market sector instruments  held  by  the

Partnership is typically many times the applicable margin require-

ments, as such margin requirements generally range between 2% and

15%  of  contract face value.  Additionally, due to  the  use  of

leverage, the face value of the market sector instruments held by

the  Partnership is typically many times the total capitalization

of the Partnership.  The financial magnitude of the Partnership's

open  positions thus creates a "risk of ruin" not typically found

in  other investment vehicles.  Due to the relative size  of  the

positions   held,  certain  market  conditions  may   cause   the

Partnership  to incur losses greatly in excess of  VaR  within  a

short  period of time.  The foregoing VaR tables, as well as  the

past  performance of the Partnership, gives no indication of such

"risk  of  ruin".  In  addition,  VaR  risk  measures  should  be

interpreted  in  light  of the methodology's  limitations,  which

include  the following: past changes in market risk factors  will

not  always  yield accurate predictions of the distributions  and

correlations  of  future market movements; changes  in  portfolio

value  in  response  to  market movements  may  differ  from  the

responses implicit in a VaR model; published VaR results  reflect

past  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

<PAGE>

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.



The foregoing VaR tables present the results of the Partnership's

VaR  for the Partnership's market risk exposure at September  30,

1999 and for the end of the four quarterly reporting periods from

October  1, 1998 through September 30, 1999.  Since VaR is  based

on historical data, VaR should not be viewed as predictive of the

Partnership's  future financial performance  or  its  ability  to

manage  and monitor risk and there can be no assurance  that  the

Partnership's actual losses on a particular day will  not  exceed

the VaR amounts indicated or that such losses will not occur more

than 1 in 100 trading days.



Non-Trading Risk

The  Partnership has non-trading market risk on its foreign  cash

balances not needed for margin.  However, such balances, as  well

as  any  market  risk  they may represent, are  immaterial.   The

Partnership  also maintains a substantial portion  (approximately

90%) of its available assets in cash at DWR.  A decline in short-

term interest rates will result in a decline in the Partnership's

cash  management  income. This cash flow risk is  not  considered

material.



Materiality,  as used throughout this section,  is  based  on  an

assessment  of  reasonably  possible  market  movements  and  the

potential  losses caused by such movements, taking  into  account

the

<PAGE>

leverage,   optionality   and   multiplier   features   of    the

Partnership's market sensitive instruments.



Qualitative Disclosures Regarding Primary Trading Risk Exposures

The following qualitative disclosures regarding the Partnership's

market risk exposures - except for (i) those disclosures that are

statements  of historical fact and (ii) the descriptions  of  how

the  Partnership  manages  its primary market  risk  exposures  -

constitute  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.









<PAGE>

The  following  was  the primary trading  risk  exposure  of  the

Partnership  as  of  September 30, 1999.  It may  be  anticipated

however, that market exposure will vary materially over time.

     Currency. The Partnership's currency exposure is 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 influence these fluctuations.   The

Partnership  trades  in  a large number of currencies,  including

cross-rates - i.e., positions between two currencies  other  than

the   U.S.   dollar.   For  the  third  quarter  of   1999,   the

Partnership's  major exposures were in the euro currency  crosses

and  outright U.S. dollar positions.  (Outright positions consist

of  the U.S. dollar vs. other currencies.  These other currencies

include  the  major  and  minor currencies).   Demeter  does  not

anticipate  that  the risk profile of the Partnership's  currency

sector  will  change significantly in the future.   The  currency

trading VaR figure includes foreign margin amounts converted into

U.S.  dollars  with  an  incremental adjustment  to  reflect  the

exchange  rate  risk inherent to the dollar-based Partnership  in

expressing VaR in a functional currency other than dollars.



Qualitative Disclosures Regarding Non-Trading Risk Exposure

The  following  was  the only non-trading risk  exposure  of  the

Partnership as of September 30, 1999:





<PAGE>

Foreign  Currency  Balances.  The Partnership's  primary  foreign

currency  balances  are in Japanese yen, euros,  British  pounds,

Singapore  dollars  and  South African  rands.   The  Partnership

controls  the  non-trading risk of these  balances  by  regularly

converting  these balances back into dollars upon liquidation  of

the respective position.



Qualitative Disclosures Regarding Means of Managing Risk Exposure

The  means  by  which the Partnership and the  Trading  Advisors,

severally,  attempt to manage the risk of the Partnership's  open

positions  are  essentially the same  in  all  market  categories

traded.   Demeter  attempts  to manage the  Partnership's  market

exposure  by  (i)  diversifying the  Partnership's  assets  among

different  Trading  Advisors, each of whose strategies  focus  on

different  market  sectors  and  trading  approaches,  and  (ii),

monitoring  the performance of the Trading Advisors  on  a  daily

basis.   In  addition,  the Trading Advisors  establish  diversi-

fication guidelines, often set in terms of the maximum margin  to

be  committed  to  positions in any one market sector  or  market

sensitive  instrument.  One should be aware that certain  Trading

Advisors  treat  their  risk control policies  as  strict  rules,

whereas others treat such policies as general guidelines.



Demeter monitors and controls the risk of the Partnership's  non-

trading   instrument,  cash,  which  is  the   only   Partnership

investment directed by Demeter, rather than the Trading Advisors.




<PAGE>

                   PART II.  OTHER INFORMATION



Item 1.  LEGAL PROCEEDINGS

The  following supplements Legal Proceedings previously disclosed

in the Partnership's 1998 Form 10-K:



In  the  New  York  action, the motion  to  dismiss  the  amended

complaint  with prejudice has been fully briefed and  argued  and

the Dean Witter Parties are awaiting the New York Supreme Court's

decision.



In  the  California action, on September 24, 1999,  the  Superior

Court in the State of California entered an order dismissing  the

consolidated amended complaint without prejudice on consent.



Item 6. Exhibits and Reports on Form 8-K

     (A)  Exhibits - None.

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




















<PAGE>






                            SIGNATURE



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




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

                         By: Demeter Management Corporation
                             (General Partner)

November 12, 1999        By:/s/Lewis A. Raibley, III
                               Lewis A. Raibley, III
                               Director and 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.