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, 2002 or

[ ]	Transition report pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
For the transition period from               to__________________


Commission File Number 0-23826

	DEAN WITTER WORLD CURRENCY FUND L.P.

	(Exact name of registrant as specified in its charter)


		Delaware						     13-3700691
(State or other jurisdiction of		   	  (I.R.S. Employer
incorporation or organization)			      Identification No.)


Demeter Management Corporation
c/o Managed Futures Department
825 Third Avenue, 8th Floor, New York, NY   	   	  10022
(Address of principal executive offices)	  	     (Zip Code)

Registrant's telephone number, including area code (201) 876-4647



(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, 2002



<caption>

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

				<c>
		Statements of Financial Condition as of March 31, 2002
 		(Unaudited) and December 31, 2001..........................2

		Statements of Operations for the Quarters Ended
		March 31, 2002 and 2001 (Unaudited)........................3

		Statements of Changes in Partners' Capital for the
	  Quarters Ended 	March 31, 2002 and 2001 (Unaudited).........4

		Statements of Cash Flows for the Quarters Ended
		March 31, 2002 and 2001 (Unaudited) .......................5

		Notes to Financial Statements (Unaudited)...............6-10

Item 2.	Management's Discussion and Analysis of
			Financial Condition and Results of Operations...... 11-16

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

Part II. OTHER INFORMATION

Item 1.	Legal Proceedings......................................27

Item 6.	Exhibits and Reports on Form 8-K....................27-28




</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,
                                  2002      	    2001
	                      $	   $
	                     (Unaudited)
ASSETS

	<c>	<c>
Equity in futures interests trading accounts:
	Cash	15,445,450	15,739,498

	Net unrealized gain (loss) on open contracts (MS & Co.)	  (866,653)	  1,557,632

	     Total Trading Equity	14,578,797	17,297,130

	Interest receivable (Morgan Stanley DW)	18,483	18,075
	Due from Morgan Stanley DW	       12,906	       -

	     Total Assets	14,610,186	17,315,205



LIABILITIES AND PARTNERS' CAPITAL

Liabilities

	Redemptions payable	78,406	331,158
	Accrued management fees	24,333	28,847
	Accrued administrative expenses	10,191	7,284
	Accrued incentive fees	        -        	    188,820

	     Total Liabilities	     112,930	    556,109

Partners' Capital

	Limited Partners (13,736.815 and 14,002.124 Units, respectively)	14,174,786	16,393,224
	General Partner (312.506 Units)	     322,470	    365,872

	     Total Partners' Capital	14,497,256	16,759,096

	     Total Liabilities and Partners' Capital	14,610,186	17,315,205




NET ASSET VALUE PER UNIT	    1,031.88	    1,170.77


<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,

	      2002   	   2001
	    $	   $
REVENUES

			<c>	<c>
	Trading profit (loss):
		Realized	637,106	2,097,165
		Net change in unrealized	(2,424,285)	    (24,602)

			Total Trading Results 	(1,787,179)	2,072,563

	Interest Income (Morgan Stanley DW)	      52,974	    151,731

			Total  	(1,734,205)	 2,224,294

EXPENSES

	Brokerage commissions (Morgan Stanley DW)	140,825	129,813
	Management fees	79,151	86,414
	Administrative expenses	10,191	10,591
	Incentive fees	       -        	   152,427

			Total  	    230,167	   379,245

NET INCOME (LOSS)	(1,964,372)	1,845,049


NET INCOME (LOSS) ALLOCATION

	Limited Partners	(1,920,970)	1,808,284
	General Partner	(43,402)	36,765

NET INCOME (LOSS) PER UNIT

	Limited Partners	(138.89)	117.64
	General Partner	(138.89)	117.64



<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, 2002 and 2001
	(Unaudited)


<caption>


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



	<c>	<c>	<c>	<c>
Partners' Capital,
	December 31, 2000	16,004.200	16,582,911	330,255	16,913,166

Net Income	-        	1,808,284	36,765	1,845,049

Redemptions	    (424.877)	    (461,199)	      -      	   (461,199)

Partners' Capital,
	March 31, 2001	15,579.323	17,929,996	367,020	18,297,016





Partners' Capital,
	December 31, 2001	14,314.630	16,393,224	365,872	16,759,096

Net Loss	-         	(1,920,970)	(43,402)	(1,964,372)

Redemptions	   (265.309)	   (297,468)	      -      	   (297,468)

Partners' Capital,
	March 31, 2002	14,049.321	14,174,786	322,470	14,497,256






<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,

	      2002     	      2001
	     $	      $


CASH FLOWS FROM OPERATING ACTIVITIES

			<c>	<c>
Net income (loss)	(1,964,372)	1,845,049
Noncash item included in net income (loss):
	Net change in unrealized	2,424,285	24,602

(Increase) decrease in operating assets:
	Interest receivable (Morgan Stanley DW)	(408)	11,469
	Due from Morgan Stanley DW	(12,906)	3,628

Increase (decrease) in operating liabilities:
	Accrued management fees	(4,514)	2,361
	Accrued administrative expenses	2,907	 (229)
	Accrued incentive fees	(188,820)	    152,427

Net cash provided by operating activities	   256,172	 2,039,307


CASH FLOWS FROM FINANCING ACTIVITIES

Decrease in redemptions payable	(252,752)	(122,027)
Redemptions of Units	   (297,468)	   (461,199)

Net cash used for financing activities	   (550,220)	   (583,226)

Net increase (decrease) in cash	(294,048)	1,456,081

Balance at beginning of period	15,739,498	15,129,282

Balance at end of period	15,445,450	16,585,363




<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

March 31, 2002

(Unaudited)


The unaudited financial statements contained herein include, in
the opinion of management, all adjustments necessary for a fair
presentation of the results of operations and financial condition
of Dean Witter World Currency Fund L.P. (the "Partnership").  The
financial statements and condensed notes herein should be read in
conjunction with the Partnership's December 31, 2001 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 contracts, options on futures
contracts and forward contracts on foreign currencies.

The general partner of the Partnership is Demeter Management
Corporation ("Demeter"). The non-clearing commodity broker is
Morgan Stanley DW Inc. ("Morgan Stanley DW").  The clearing
commodity brokers are Morgan Stanley & Co. Inc. ("MS & Co.") and
Morgan Stanley & Co. International Limited ("MSIL").  Demeter,
Morgan Stanley DW, MS & Co. and MSIL are wholly-owned subsidiaries
of Morgan Stanley Dean Witter & Co.  The trading


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

advisors for the Partnership are John W. Henry & Company, Inc. and
Millburn Ridgefield Corporation (collectively, the "Trading
Advisors").

2.  Related Party Transactions
The Partnership's cash is on deposit with Morgan Stanley DW, MS &
Co. and MSIL in futures, forwards and options trading accounts to
meet margin requirements as needed.  Morgan Stanley DW pays
interest in these funds based on the average yield on 13-week U.S.
Treasury bills.  The Partnership pays brokerage commissions to
Morgan Stanley DW.

3.  Financial Instruments
The Partnership trades futures contracts, options on futures
contracts and forward contracts on foreign currencies.  Futures
and forwards represent contracts for delayed delivery of an
instrument at a specified date and price.  Risk arises from
changes in the value of these contracts and the potential
inability of counterparties to perform under the terms of the
contracts.  There are numerous factors which may significantly
influence the market value of these contracts, including interest
rate volatility.


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

The Partnership accounts for its derivative investments in
accordance with the provisions of Statement of Financial
Accounting Standard No. 133, "Accounting for Derivative
Instruments and Hedging Activities" ("SFAS No. 133").  SFAS No.
133 defines a derivative as a financial instrument or other
contract that has all three of the following characteristics:

1)	One or more underlying notional amounts or payment
provisions;
2)	Requires no initial net investment or a smaller initial net
investment than would be required relative to changes in
market factors;
3)	Terms require or permit net settlement.

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

The net unrealized gains (losses) on open contracts, reported as a
component of "Equity in futures interests trading accounts" on the
statements of financial condition, and their longest contract
maturities were as follows:

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

	Net Unrealized Gains (Losses)
	on Open Contracts 	Longest Maturities
	Exchange-	Off-Exchange-		Exchange-	Off-Exchange-
Date	Traded	Traded	Total	Traded	Traded
	$	$	$

Mar. 31, 2002	-	(866,653)	(866,653)	-	Jun. 2002
Dec. 31, 2001	-	1,557,632	1,557,632	-	Mar. 2002

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 Morgan Stanley DW, MS
& Co. and MSIL 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 Morgan Stanley DW, MS & Co. and
MSIL, as a futures commission merchant for all of 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

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

futures-styled options contracts, including an amount equal to the
net unrealized gain (loss) on all open futures and futures-styled
options contracts.  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 (loss) 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 MS & Co., the sole counterparty on all of
such contracts, to perform.  The Partnership has a netting
agreement with MS & Co.  This agreement, which seeks to reduce
both the Partnership's and MS & Co.'s exposure on off-exchange-
traded forward currency contracts, should materially decrease the
Partnership's credit risk in the event of MS & Co.'s bankruptcy or
insolvency.









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


Liquidity.  The Partnership deposits its assets with Morgan
Stanley DW as non-clearing broker and MS & Co. and MSIL as
clearing brokers in separate futures, forwards and options 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 nor
liquidated unless traders are willing to effect trades at or

<page>
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, 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, nor 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 investment in futures, forwards
and options 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 the 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 month
periods ended March 31, 2002 and 2001, and a general discussion of
its trading activities during each period.  It is important to
note, however, that the Trading Advisors trade in various markets
at different times and that prior activity in a particular market
does not mean that such market will be actively traded by the
Trading Advisors or will be profitable in the future.
Consequently, the results of operations of the Partnership are
difficult to discuss other than in the context of the Trading
Advisors' trading activities on behalf of the Partnership and how
the Partnership has performed in the past.

For the Quarter Ended March 31, 2002
For the quarter ended March 31, 2002, the Partnership recorded
total trading losses, net of interest income, of $1,734,205 and
posted a decrease in net asset value per Unit.  The most
significant losses of approximately 3.6% were recorded from short
positions in the euro as its value increased versus the U.S.
dollar due to increased demand for the European currency
following the introduction of euro coins and notes, as well as

<page>
improved economic confidence throughout Europe.  Additional
losses of approximately 2.6% were from short positions in the
South African rand as its value rebounded from record lows versus
the U.S. dollar.  Losses of approximately 2.5% were recorded in
the Japanese yen as its value initially moved higher versus the
U.S. dollar amid an increase in yen repatriation and renewed hope
for a stimulus package and thereafter reversed lower versus the
U.S. dollar on expectations that such repatriation flows would
soon end ahead of the Japanese fiscal year-end.  Smaller losses
of approximately 1.2% and 0.8% were recorded in the British pound
and the Swiss franc, respectively, as the value of these
currencies moved erratically versus the U.S. dollar on political
unrest in the Middle East and Swiss National Bank monetary
policies.  A small portion of these losses was offset by gains of
approximately 0.5% experienced from long positions in the
Australian dollar as its value strengthened versus the U.S.
dollar amid expectations for higher interest rates in Australia.
Total expenses for the three months ended March 31, 2002 were
$230,167, resulting in a net loss of $1,964,372.  The net asset
value of a Unit decreased from $1,170.77 at December 31, 2001 to
$1,031.88 at March 31, 2002.

For the Quarter Ended March 31, 2001
For the quarter ended March 31, 2001, the Partnership recorded


<page>
total trading revenues, including interest income, of $2,224,294
and posted an increase in net asset value per Unit.  The most
significant gains of approximately 13.4% were recorded throughout
a majority of the quarter primarily from short positions in the
Japanese yen as the value of the yen weakened relative to the
U.S. dollar on concerns for the Japanese economy and in both
anticipation of and reaction to the Bank of Japan's decision to
reinstate its zero interest rate policy.  Additional gains of
approximately 2.5% were recorded during March from short
positions in the Singapore dollar as its value weakened versus
the U.S. dollar in sympathy with the declining Japanese yen.
Smaller gains of approximately 1.1% resulted from short
Australian dollar positions as its value moved lower relative to
the U.S. dollar during March amid economic uncertainty in that
country.  Profits of approximately 1.0% were recorded during
March from short positions in the Thai baht as its value declined
relative to the U.S. dollar on concerns regarding the overall
economic environment in the Pacific Rim.  A portion of overall
Partnership gains for the quarter was offset by losses of
approximately 2.7% recorded primarily during February from long
positions in the euro as the value of the euro weakened versus
the U.S. dollar amid growth concerns regarding the European
economy and the European Central Bank's decision to hold interest
rates unchanged.  Smaller losses of approximately 1.4% were
recorded primarily during January from long positions in the

<page>
South African rand versus the U.S. dollar as the value of the
rand weakened and the U.S. dollar gained support as several
officials of the world's major central banks soothed fears of a
hard economic landing in the U.S.  Total expenses for the three
months ended March 31, 2001 were $379,245, resulting in net
income of $1,845,049.  The net asset value of a Unit increased
from $1,056.80 at December 31, 2000 to $1,174.44 at March 31,
2001.


















<page>
Item 3. 	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK

Introduction
The Partnership is a commodity pool engaged primarily in the
speculative trading of futures, forwards, and options.  The
market-sensitive instruments held by the Partnership are acquired
for speculative trading purposes only and, as a result, all or
substantially all of the Partnership's assets are at risk of
trading loss.  Unlike an operating company, the risk of market-
sensitive instruments is central, not incidental, to the
Partnership's main business activities.

The futures, forwards and options traded by the Partnership
involve varying degrees of related market risk.  Market risk is
often dependent upon changes in the level or volatility of
interest rates, exchange rates and prices of financial
instruments and commodities.  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.

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,

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

The Partnership accounts for open positions on the basis of mark-
to-market accounting principles.  Any loss in the market value of


<page>
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, forwards and options 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 used 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 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 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

<page>
risk factors, would have been exceeded once in 100 trading days.

VaR models, including the Partnership's, are continuously
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 table indicates the VaR associated with the
Partnership's open positions as a percentage of total net assets
by primary market risk category at March 31, 2002 and 2001. At
March 31, 2002 and 2001, the Partnership's total capitalization
was approximately $14 million and $18 million, respectively.

	Primary Market          March 31, 2002	   March 31, 2001
     Risk Category	  	     Value at Risk	    Value at Risk

     Currency                    (0.98)%              (4.99)%

The table above represents the VaR of the Partnership's open
positions at March 31, 2002 and 2001 only and is not necessarily
representative of either the historic or future risk of an
investment in the Partnership.  Because the Partnership's only
business is the speculative trading of futures, forwards and

<page>
options, the composition of its trading portfolio can change
significantly over any given time period, or even within a single
trading day. Any changes in open positions could positively or
negatively materially impact market risk as measured by VaR.

The table below supplements the March 31, 2002 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, 2001 through March 31, 2002.

Primary Market Risk Category        High      Low      Average
Currency	(4.12)%	(0.98)%	(3.28)%


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 usually 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

<page>
and market volatility.  The VaR tables above, as well as the past
performance of the Partnership, give 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 caused by 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 its market risk exposure at March 31, 2002 and 2001 and for
the end of the four quarterly reporting periods from April 1, 2001
through March 31, 2002.  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.

<page>
There can be no assurance that the Partnership's actual losses on
a particular day will not exceed the VaR amounts indicated above
or that such losses will not occur more than once in 100 trading
days.

Non-Trading Risk
The Partnership has non-trading market risk on its foreign cash
balances not needed for margin.  The Partnership did not have any
foreign currency balances at March 31, 2002.

At March 31, 2002 the Partnership's cash balance at Morgan Stanley
DW was approximately 107% of its total net asset value.  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 to be material.

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

Qualitative Disclosures Regarding Primary Trading Risk Exposures
The following qualitative disclosures regarding the Partnership's

<page>
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 at March 31, 2002.  It may be anticipated, however,
that market exposures will vary materially over time.

Currency.  The Partnership's currency exposure at March 31, 2002
was to exchange rate fluctuations, primarily fluctuations which

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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.  At March 31, 2002, the
Partnership's major exposures were to euro currency crosses and
outright U.S. dollar positions.  Outright positions consist of
the U.S. dollar vs. other currencies.  These other currencies
include major and minor currencies.  Demeter does not anticipate
that the risk 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 U.S.-based Partnership in expressing
VaR in a functional currency other than U.S. dollars.

Qualitative Disclosures Regarding Non-Trading Risk Exposure
At March 31, 2002, there was no non-trading risk exposure because
the Partnership did not have any foreign currency balances.

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

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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.

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.















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PART II.  OTHER INFORMATION

Item 1.  LEGAL PROCEEDINGS
None.

Item 6.  EXHIBITS AND REPORTS ON FORM 8-K

(A)	Exhibits

3.01	Limited Partnership Agreement of the Partnership, dated
as of December 8, 1992, is incorporated by reference to
Exhibit 3.01 and Exhibit 3.02 of the Partnership's
Registration Statement on Form S-1 (File No. 33-55806).
10.01	Form of the Management Agreements among the Partnership,
Demeter and CCA Capital Management Inc., Colorado
Commodities Management Corporation, Ezra Zask Associates
Inc. and Millburn Ridgefield Corporation, dated as of
March 1, 1993, are incorporated by reference to Exhibit
10.02 of the Partnership's Registration Statement on Form
S-1 (File No. 33-55806).
10.02	Management Agreement among the Partnership, Demeter and
John W. Henry & Company, Inc., dated as of June 1, 1995,
is incorporated by reference to Exhibit 10.03 of the
Partnership's Annual Report on Form 10-K for the fiscal
year ended December 31, 1995.
10.03	Amended and Restated Customer Agreement between the
Partnership and Morgan Stanley DW dated as of June 22,
2000, is incorporated by reference to Exhibit 10.01 of
the Partnership's Form 8-K (File No. 0-23826) filed with
the Securities and Exchange Commission on November 13,
2001.
10.04	Commodity Futures Customer Agreement between MS & Co. and
the Partnership, and acknowledged and agreed to by Morgan
Stanley DW, dated as of May 1, 2000, is incorporated by
reference to Exhibit 10.02 of the Partnership's Form 8-K
(File No. 0-23826) with the Securities and Exchange
Commission on November 13, 2001.



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10.05	Foreign Exchange and Options Master Agreement between MS
& Co. and the Partnership, dated as of April 30, 2000, is
incorporated by reference to Exhibit 10.04 of the
Partnership's Form 8-K (File No. 0-23826) filed with the
Securities and Exchange Commission on November 13, 2001.
10.06	Securities Account Control Agreement among the
Partnership, MS & Co. and Morgan Stanley DW dated as of
May 1, 2000, is incorporated by reference to Exhibit
10.03 of the Partnership's Form 8-K (File No. 0-23826)
filed with the Securities and Exchange Commission on
November 13, 2001.
10.07	Amendment to Management Agreement among the Partnership,
Morgan Stanley DW and John W. Henry & Company, Inc.,
dated as of November 30, 2000, is incorporated by
reference to Exhibit 10.1 of the Partnership's Form 8-K
filed with the Securities and Exchange Commission on
January 3, 2001.
10.08	Amendment to Management Agreement between the Partnership
and Millburn Ridgefield Corporation, dated as of November
30, 2000, is incorporated by reference to Exhibit 10.2 of
the Partnership's Form 8-K filed with the Securities and
Exchange Commission on January 3, 2001.

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





















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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 15, 2002            By:   /s/Raymond E. Koch
                              Raymond E. Koch
                              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.