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 March 31, 2000 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

                         March 31, 2000

<CAPTION>
PART I. FINANCIAL INFORMATION

Item 1. Financial Statements
<S>
<C>
     Statements of Financial Condition March 31, 2000
     (Unaudited) and December 31, 1999                          2

     Statements of Operations for the Quarters Ended
     March 31, 2000 and 1999 (Unaudited)                       3

     Statements of Changes in Partners' Capital for
     the Quarters Ended March 31, 2000 and 1999 (Unaudited)     4

     Statements of Cash Flows for the Quarters Ended
     March 31, 2000 and 1999 (Unaudited)                        5

     Notes to Financial Statements (Unaudited)               6-10

Item 2. Management's Discussion and Analysis of
          Financial Condition and Results of Operations     11-17

Item 3.   Quantitative and Qualitative Disclosures about
          Market Risk                                       17-26

Part II. OTHER INFORMATION

Item 1.   Legal Proceedings                                    27

Item 5.   Other Information                                    27

Item 6.   Exhibits and Reports on Form 8-K                     28






</TABLE>





<PAGE>
<TABLE>


                 PART I.  FINANCIAL INFORMATION


Item 1.  Financial Statements

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

<CAPTION>

                                     March 31,     December 31,
                                       2000          1999
                                         $              $
                                    (Unaudited)
ASSETS
<S>                                     <C>            <C>
Equity in futures interests trading accounts:
 Cash                             17,895,674     20,485,336
 Net unrealized gain on open contracts     158,034       149,925

    Total Trading Equity          18,053,708     20,635,261

 Interest receivable (DWR)            72,664         74,011
 Due from DWR                         22,056           -

    Total Assets                  18,148,428    20,709,272

LIABILITIES AND PARTNERS' CAPITAL

Liabilities

 Redemptions payable                 597,532       381,996
 Accrued management fees              45,315        51,737
 Accrued administrative expenses       22,349         14,457

    Total Liabilities                 665,196      448,190

Partners' Capital

 Limited Partners (18,294.421 and
      20,079.269 Units, respectively)17,189,599  19,950,579
 General Partner (312.506 Units)     293,633       310,503

 Total Partners' Capital          17,483,232    20,261,082

 Total Liabilities and Partners' Capital18,148,428  20,709,272


NET ASSET VALUE PER UNIT              939.61        993.59
<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 March 31,

                                      2000             1999
                                         $           $
REVENUES
<S>                                  <C>         <C>
 Trading profit (loss):
    Realized                        (883,339)     501,542
    Net change in unrealized          8,109       967,288
      Total Trading Results         (875,230)  1,468,830
    Interest Income (DWR)           213,244       220,750
      Total Revenues                (661,986)   1,689,580

EXPENSES

    Brokerage commissions (DWR)       233,151     205,406
   Management fees                   143,642     186,718
   Administrative expenses            12,211      15,415
   Transaction fees and costs         14,178        9,712
      Total Expenses                  403,182     417,251

NET INCOME (LOSS)                 (1,065,168)   1,272,329

NET INCOME (LOSS) ALLOCATION

    Limited Partners              (1,048,298)   1,256,291
    General Partner                  (16,870)      16,038


NET INCOME (LOSS) PER UNIT

   Limited Partners                    (53.98)      51.32
   General Partner                     (53.98)      51.32

<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 Quarters Ended March 31, 2000 and 1999
                          (Unaudited)

<CAPTION>



                          Units of
                        Partnership Limited   General
                          Interest   Partners Partner    Total



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

Net Income                 -      1,256,291    16,0381,272,329

Redemptions
(1,617.480)            (1,606,608)        -         (1,606,608)

Partners' Capital,
                  March                 31,                  1999
23,992.761            $24,135,372   $318,512$24,453,884



Partners' Capital,
                 December                31,                 1999
20,391.775       $19,950,579   $310,503 $20,261,082

Net Loss                    -     (1,048,298)(16,870)(1,065,168)

Redemptions
(1,784.848)            (1,712,682)        -         (1,712,682)

Partners' Capital,
                  March                 31,                  2000
18,606.927           $17,189,599    $293,633$17,483,232







<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 Quarters Ended March 31,

                                      2000          1999
                                        $            $
CASH FLOWS FROM OPERATING ACTIVITIES
<S>                         <C>                          <C>
   Net   income   (loss)                (1,065,168)     1,272,329
Noncash item included in net income (loss):
    Net change in unrealized         (8,109)     (967,288)
 (Increase) decrease in operating assets:
    Interest receivable (DWR)        1,347         (1,183)
    Due from DWR                    (22,056)       -

 Increase (decrease) in operating liabilities:
      Accrued   management  fees            (6,422)            46
Accrued        administrative        expenses               7,892
7,775
 Net cash provided by (used for) operating activities (1,092,516)
311,679


CASH FLOWS FROM FINANCING ACTIVITIES

   Increase   in  redemptions  payable    215,536         352,742
Redemptions of Units             (1,712,682)   (1,606,608)
   Net   cash   used   for   financing   activities   (1,497,146)
(1,253,866)
 Net decrease in cash            (2,589,662)     (942,187)
 Balance at beginning of period 20,485,336    26,130,701
 Balance at end of period       17,895,674    25,188,514



<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, 1999 Annual Report on Form 10-K.



1.  Organization

Dean  Witter  World  Currency Fund L.P.  is  a  Delaware  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.  John W. Henry &

Company  and  Millburn  Ridgefield Corporation  are  the  trading

advisors (the "Trading Advisors") to 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 and Carr in futures

interests trading accounts to meet margin requirements as needed.

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 ("FASB")

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.   In  June 1999, the FASB issued SFAS No. 137,  "Accounting

for  Derivative Instruments and Hedging Activities - Deferral  of

the  Effective   Date  of  SFAS  No. 133,"   which   defers   the

required

<PAGE>

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


implementation of SFAS No. 133 until fiscal years beginning after

June  15, 2000.  However, the Partnership had previously  elected

to adopt the provisions of SFAS No. 133 beginning with the fiscal

year  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 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 gain on open contracts  are  reported  as  a

component  of  "Equity in futures interests trading accounts"  on

the  statements of financial condition and totaled  $158,034  and

$149,925 at March 31, 2000 and December 31, 1999, respectively.



The  net unrealized gains on open contracts of $158,034 at  March

31,  2000  and  $149,925 at December 31,  1999  related  to  off-

exchange-traded forward currency contracts.



Off-exchange-traded  forward  currency  contracts  held  by   the

Partnership  at  March  31,  2000 and December  31,  1999  mature

through June 2000 and March 2000, respectively.



<PAGE>

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


The Partnership has 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.



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 gain on all open futures and futures-

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

$17,895,674  and $20,485,336 at March 31, 2000 and  December  31,

1999,  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

<PAGE>

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


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.  The Partnership has a netting  agreement

with  Carr.   This  agreement, which seeks  to  reduce  both  the

Partnership's and Carr's exposure on off-exchange-traded  forward

currency  contracts, should materially decrease the Partnership's

credit  risk  in  the event of Carr's bankruptcy  or  insolvency.

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 - The Partnership deposits its assets with DWR as  non-

clearing  broker and Carr as clearing broker in separate  futures

trading  accounts  established for each  Trading  Advisor,  which

assets  are  used as margin to engage in trading. The assets  are

held   in  either  non-interest-bearing  bank  accounts   or   in

securities  and instruments permitted by the CFTC for  investment

of  customer  segregated  or secured  funds.   The  Partnership's

assets held by the commodity brokers may be used as margin solely

for  the  Partnership's  trading.  Since the  Partnership's  sole

purpose  is  to  trade in futures, forwards, and options,  it  is

expected  that the Partnership will continue to own  such  liquid

assets for margin purposes.



The  Partnership's investment in futures, forwards,  and  options

may, from time to time, be illiquid.  Most U.S. futures exchanges

limit  fluctuations in prices during a single day by  regulations

referred  to  as  "daily price fluctuations  limits"   or  "daily

limits".   Trades may not be executed at prices beyond the  daily

limit.  If the price for a particular futures or options contract

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

positions  in  that futures or options contract  can  neither  be

taken





<PAGE>

nor liquidated unless traders are willing to effect trades at  or

within  the  limit.  Futures prices have occasionally  moved  the

daily  limit  for  several consecutive days  with  little  or  no

trading.   These market conditions could prevent the  Partnership

from  promptly  liquidating its futures or options contracts  and

result in restrictions on redemptions.



There  is  no limitation on daily price moves in trading  forward

contracts  on  foreign currencies.  The markets  for  some  world

currencies  have low trading volume and are illiquid,  which  may

prevent  the  Partnership from trading in potentially  profitable

markets  or  prevent  the Partnership from  promptly  liquidating

unfavorable  positions  in  such markets  and  subjecting  it  to

substantial  losses.   Either of these  market  conditions  could

result in restrictions on redemptions.



The  Partnership  has  never had illiquidity  affect  a  material

portion of its assets.



Capital  Resources. The Partnership does not have, or  expect  to

have,  any  capital assets.  Redemptions of additional  units  of

limited  partnership  interest ("Unit(s)")  in  the  future  will

affect  the amount of funds available for investments in  futures

interests in subsequent periods.  It is not possible to  estimate

the  amount  and  therefore, the impact of future redemptions  of

Units.



<PAGE>

Results of Operations

General.   The  Partnership's  results  depend  on  its   Trading

Advisors  and  the  ability  of  the  Trading  Advisors'  trading

programs  to  take advantage of price movements or  other  profit

opportunities in the futures, forwards, and options markets.  The

following presents a summary of the Partnership's operations  for

the three months ended March 31, 2000 and 1999, respectively, and

a  general  discussion  of  its trading  activities  during  each

period.   It  is  important to note, however,  that  the  Trading

Advisors  trade  in various markets at different times  and  that

prior  activity  in a particular market does not mean  that  such

market will be actively traded by the Trading Advisors or will be

profitable   in  the  future.   Consequently,  the   results   of

operations of the Partnership are difficult to discuss other than

in  the  context of its Trading Advisors' trading  activities  on

behalf of the Partnership as a whole and how the Partnership  has

performed in the past.



For the Quarter Ended March 31, 2000

For  the  quarter ended March 31, 2000, the Partnership  recorded

total  trading  losses  net of interest income  of  $661,986  and

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

significant losses of approximately 2.7% were recorded from  long

Japanese  yen  positions as the value of the yen weakened  versus

the  U.S.  dollar  during  January  following  a  Bank  of  Japan

intervention and improving sentiment in the U.S. bond market.



<PAGE>

Short  Japanese yen positions resulted in losses during March  as

the  yen's value reversed higher relative to the U.S. dollar  and

major  European  currencies on reports  of  yen  repatriation  by

institutions ahead of the Japanese fiscal year-end on  March  31.

Additional  losses  of approximately 1.9% were  experienced  from

long  positions in the British pound during January and  February

as  the  value of the pound weakened versus the U.S. dollar  amid

the  dollar's strength versus other major currencies and interest

rate  increases by the European Central Bank and the U.S. Federal

Reserve.   Smaller losses of approximately 1.3%  resulted  during

February  from  long  Canadian  dollar  positions  as  its  value

weakened  against the U.S. dollar after a weak December wholesale

trade  report cast some doubt on the Bank of Canada's ability  to

match  future  U.S.  Federal Reserve rate hikes.   A  portion  of

overall  Partnership losses was offset by gains of  approximately

1.0%  recorded  from  short  positions  in  the  European  common

currency as its value weakened to a lifetime low versus the  U.S.

dollar  during  January  on skepticism  about  Europe's  economic

outlook. The value of the euro finished the quarter lower  versus

the U.S. dollar on expectations that interest rates would be held

steady  by  the  European Central Bank, resulting  in  additional

gains  for  short  positions.  Additional gains of  approximately

0.7%  were  recorded during January from short positions  in  the

Swiss franc as the value of this currency shared many of the same

woes  as  the euro. Long Mexican peso positions also resulted  in

gains of approximately 0.7% as its value strengthened relative to

<PAGE>

the U.S. dollar amid gains for Mexico's benchmark IPC stock index

during  March.  Total expenses for the three months  ended  March

31,  2000  were $403,182, resulting in a net loss of  $1,065,168.

The  value of a Unit decreased from $993.59 at December 31,  1999

to $939.61 at March 31, 2000.



For the Quarter Ended March 31, 1999

For  the  quarter ended March 31, 1999, the Partnership  recorded

total  trading revenues, including interest income, of $1,689,580

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

significant gains of approximately 9.8% were recorded  throughout

a majority of the quarter 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.  Additional

gains  of approximately 2.5% were recorded from short Swiss franc

positions  as the value of the U.S. dollar increased  versus  the

franc  during March to its highest level in more than six  months

as  investors reasoned that the United States is the safest place

to  invest during the crisis in Kosovo due to the fact that it is

far  from  the actual conflict and possesses a powerful  military

force.    These  gains  were  partially  offset  by   losses   of

approximately 5.6% recorded during January and February from long

Japanese yen positions as the value of the yen fell to a 2 1/2 month

low versus  the U.S.  dollar  after  several  key Tokyo officials

<PAGE>

suggested  that  Japanese policy makers  were  satisfied  with  a

weaker yen.  Additional losses were experienced during March from

newly  established short Japanese yen positions as the  value  of

the  yen  increased  relative to the U.S.  dollar  amid  positive

investor  reaction to the Bank of Japan's decision to  leave  the

official  discount rate unchanged.  Losses of approximately  1.3%

were  also experienced during January from short Norwegian  krone

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

stable  oil  prices  and the possibility that  this  Scandinavian

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

During   March,  smaller  losses  were  experienced  from   short

Norwegian  krone positions as its value strengthened  versus  the

U.S.  dollar  in  reaction to the rally  in  oil  prices.   Total

expenses for the three months ended March 31, 1999 were $417,251,

resulting  in  net income of $1,272,329.  The  value  of  a  Unit

increased from $967.90 at December 31, 1998 to $1,019.22 at March

31, 1999.




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



<PAGE>

to  the  euro  prevents the Trading Advisors from  trading  those

sovereign  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.



Item  3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES  ABOUT  MARKET
RISK

Introduction

The  Partnership is a commodity pool involved in the  speculative

trading  of  futures interests.  The market-sensitive instruments

held  by  the  Partnership are acquired for  speculative  trading

purposes only and, as a result, all or substantially all  of  the

Partnership's  assets  are at risk of trading  loss.   Unlike  an

operating  company, the risk of market-sensitive  instruments  is

central,  not  incidental,  to  the Partnership's  main  business

activities.



The  futures interests traded by the Partnership involve  varying

degrees  of  market  risk.  Market risk is often  dependent  upon

changes  in  the level or volatility of interest rates,  exchange

rates,  and  prices  of  financial instruments  and  commodities.

Fluctuations  in market risk based upon these factors  result  in

frequent  changes  in  the fair value of the  Partnership's  open

positions, and, consequently, in its earnings and cash flow.



<PAGE>

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

variety  of  factors,  including the  diversification  among  the

Partnership's open positions, the volatility present  within  the

markets,  and the liquidity of the markets.  At different  times,

each  of these factors may act to increase or decrease the market

risk associated with the Partnership.



The  Partnership's past performance is not necessarily indicative

of  its  future results. Any attempt to numerically quantify  the

Partnership's  market risk is limited by the uncertainty  of  its

speculative  trading.  The Partnership's speculative trading  may

cause future losses and volatility (i.e. "risk of ruin") that far

exceed  the  Partnership's experiences to date or any  reasonable

expectations based upon historical changes in market value.



Quantifying the Partnership's Trading Value at Risk

The  following  quantitative disclosures regarding  the  Partner-

ship'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.



<PAGE>

The  Partnership accounts for open positions using mark-to-market

accounting  principles.   Any loss in the  market  value  of  the

Partnership's  open  positions  is  directly  reflected  in   the

Partnership's earnings, whether realized or unrealized,  and  its

cash  flow.   Profits and losses on open positions  of  exchange-

traded  futures  interests are settled  daily  through  variation

margin.



The  Partnership's risk exposure in the market sectors traded  by

the Trading Advisors is estimated below in terms of Value at Risk

("VaR"). The VaR model employed by the Partnership includes  many

variables that could change the market 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 the value of a trading  portfolio.

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,  and  correlation  among  these

variables.



The  hypothetical changes in portfolio value are based  on  daily

percentage changes observed in key market indices or other market

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

sensitive. The historical observation period of the Partnership's

<PAGE>

VaR  is  approximately  four years.  The one-day  99%  confidence

level of the Partnership's VaR corresponds to the negative change

in  portfolio value that, based on observed market risk  factors,

would have been exceeded once in 100 trading days.



VaR models, including the Partnership's, are continually evolving

as trading portfolios become more diverse and modeling techniques

and systems capabilities improve.  Please note that the VaR model

is   used  to  numerically  quantify  market  risk  for  historic

reporting purposes only and is not utilized by either Demeter  or

the Trading Advisors in their daily risk management activities.



The Partnership's Value at Risk in Different Market Sectors

The  following  tables  indicate  the  VaR  associated  with  the

Partnership's open positions as a percentage of total Net  Assets

by  primary market category as of March 31, 2000 and 1999.  As of

March  31,  2000 and 1999, the Partnership's total capitalization

was approximately $17 million and $24 million, respectively.


     Primary Market             March 31, 2000    March 31, 1999
     Risk Category              Value at Risk     Value at Risk

     Currency                       (3.29)%           (3.37)%



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

positions  at March 31, 2000 and 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

<PAGE>

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 April 1,

1999 through March 31, 2000.



Primary Market Risk Category        High       Low     Average

Currency                           (4.30)%    (3.26)%   (3.55)%




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

requirements.  Margin requirements generally range between 2% and

15%  of  contract face value. Additionally, the use  of  leverage

causes  the face value of the market sector instruments  held  by

the   Partnership   to  typically  be  many   times   the   total

capitalization   of   the  Partnership.    The   value   of   the

Partnership's open  positions  thus  creates a "risk of ruin" not



<PAGE>

typically found in other investments.  The relative size  of  the

positions held may cause the Partnership to incur losses  greatly

in excess of VaR within a short period of time, given the effects

of  the  leverage employed and market volatility.  The VaR tables

above, as well as the past performance of the Partnership,  gives

no  indication  of  such "risk of ruin". In  addition,  VaR  risk

measures   should  be  viewed  in  light  of  the   methodology's

limitations, which include the following:

     past  changes in market risk factors will not always result

  in accurate predictions of the distributions and correlations of

  future market movements;

     changes  in portfolio value in response to market movements

  may differ from those of the VaR model;

    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

  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 VaR tables above present the results of the Partnership's VaR

for the Partnership's market risk exposure at March 31, 2000 and

<PAGE>

for the end of the four quarterly reporting periods from April 1,

1999  through  March 31, 2000.  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 or monitor

risk.   There  can be no assurance that the Partnership's  actual

losses  on  a  particular  day will not exceed  the  VaR  amounts

indicated above or that such losses will not occur more than 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   leverage,  optionality  and  multiplier  features  of   the

Partnership's market-sensitive instruments.





<PAGE>

Qualitative Disclosures Regarding Primary Trading Risk Exposures

The following qualitative disclosures regarding the Partnership's

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

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

Partnership   manages  its  primary  market  risk   exposures   -

constitute  forward-looking  statements  within  the  meaning  of

Section  27A  of  the  Securities Act  and  Section  21E  of  the

Securities  Exchange Act. The Partnership's primary  market  risk

exposures  as  well  as the strategies used and  to  be  used  by

Demeter and the Trading Advisors for managing such exposures  are

subject  to numerous uncertainties, contingencies and risks,  any

one  of which could cause the actual results of the Partnership's

risk  controls to differ materially from the objectives  of  such

strategies.      Government    interventions,    defaults     and

expropriations,  illiquid  markets,  the  emergence  of  dominant

fundamental  factors, political upheavals, changes in  historical

price  relationships,  an  influx  of  new  market  participants,

increased  regulation  and many other  factors  could  result  in

material  losses  as  well as in material  changes  to  the  risk

exposures  and the risk management strategies of the Partnership.

Investors  must be prepared to lose all or substantially  all  of

their investment in the Partnership.



The  following  was  the primary trading  risk  exposure  of  the

Partnership as of March 31, 2000.  It may be anticipated however,

that market exposure will vary materially over time.



<PAGE>

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  first  quarter  of   2000,   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 March 31, 2000:



Foreign  Currency  Balances  -   The Partnership  does  not  have

foreign currency balances as of March 31, 2000.



<PAGE>

Qualitative Disclosures Regarding Means of Managing Risk Exposure

The Partnership and the Trading Advisors, separately, attempt  to

manage   the   risk  of  the  Partnership's  open  positions   in

essentially  the  same  manner in all market  categories  traded.

Demeter  attempts  to manage market exposure by diversifying  the

Partnership's  assets among different Trading Advisors,  each  of

whose  strategies focus on different market sectors  and  trading

approaches,  and  monitoring  the  performance  of  the   Trading

Advisors  daily.   In  addition, the Trading  Advisors  establish

diversification  guidelines, often set in terms  of  the  maximum

margin  to be committed to positions in any one market sector  or

market-sensitive  instrument.  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.   Cash  is  the   only   Partnership

investment directed by Demeter, rather than the Trading Advisors.
















<PAGE>

                   PART II.  OTHER INFORMATION



Item 1.  LEGAL PROCEEDINGS

On  March 3, 2000, the plaintiffs in the New York action filed an

appeal of the order dismissing the consolidated complaint.

(Please  refer to Legal Proceedings previously disclosed  in  the

Partnership's Form 10-K for the year ended December 31, 1999  for

a more detailed discussion).



Item 5.   OTHER INFORMATION

Effective  January 31, 2000, Mark J. Hawley resigned as  Chairman

of  the  Board and a Director of Demeter and Dean Witter  Futures

and  Currency  Management Inc. ("DWFCM")  and  Robert  E.  Murray

replaced him as Chairman of the Board of Demeter and DWFCM.



Demeter  has determined, commencing in May 2000, to transfer  the

Partnership's  futures and options clearing from Carr  to  Morgan

Stanley & Co. Incorporated ("MS & Co."), an affiliate of Demeter,

while  trades  on the London Metal Exchange will  be  cleared  by

Morgan  Stanley  &  Co. International Limited ("MSIL"),  also  an

affiliate  of  Demeter.  In addition, MS & Co. and  MSIL,  rather

than   Carr  will  act  as  the  counterparty  on  all   of   the

Partnership's foreign currency forward trades.  DWR will continue

to act as the non-clearing commodity broker for 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 12, 2000                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.