UNITED STATES
	SECURITIES AND EXCHANGE COMMISSION
	Washington, D.C. 20549

	FORM 10-Q


[X]	Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934
For the quarterly period ended June 30, 2006 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
330 Madison Avenue, 8th Floor
New York, NY							 	  10017
(Address of principal executive offices)	  	      (Zip Code)


Registrant?s telephone number, including area code  (212) 905-2700













(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___________

Indicate by check-mark whether the registrant is a large accelerated filer, an
accelerated filer, or a non-accelerated filer.  See definition of ?accelerated
filer and large accelerated filer? in Rule 12b-2 of the Exchange Act.  (Check
one):

Large accelerated filer___Accelerated filer____Non-accelerated filer X


Indicate by check-mark whether the registrant is a shell company (as defined
in Rule 12b-2 of the Exchange Act).  Yes___  No X



<page> <table> DEAN WITTER WORLD CURRENCY FUND L.P.

INDEX TO QUARTERLY REPORT ON FORM 10-Q

June 30, 2006

<caption>


PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

				<c>
		Statements of Financial Condition as of June 30, 2006
 		(Unaudited) and December 31, 2005..........................2

		Statements of Operations for the Three and Six Months
		Ended June 30, 2006 and 2005 	(Unaudited)...................3

		Statements of Changes in Partners? Capital for the
	  Six Months Ended June 30, 2006 and 2005 (Unaudited)........4

		Statements of Cash Flows for the Six Months Ended
		June 30, 2006 and 2005 (Unaudited).........................5

		Notes to Financial Statements (Unaudited)...............6-12

Item 2.	Management?s Discussion and Analysis of
			Financial Condition and Results of Operations...... 13-25

Item 3.	Quantitative and Qualitative Disclosures about
			Market Risk........................................ 25-34

Item 4.	Controls and Procedures.............................34-35



PART II. OTHER INFORMATION

Item 1A.Risk Factors...........................................36

Item 5.	Other Information...................................36-37

Item 6.	Exhibits............................................37-38

</table>


<page> <table> PART I.  FINANCIAL INFORMATION

Item 1.  Financial Statements

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

	                  June 30,	     December 31,
                     2006      	    2005
	                      $	   $
	                      (Unaudited)
ASSETS

	<c>	<c>
Equity in futures interests trading accounts:
	Unrestricted cash	6,393,828	9,844,300
	Restricted cash	       125,341	    399,277

	     Total cash                              	    6,519,169	  10,243,577

	Net unrealized loss on open contracts (MS&Co.) 	      (125,071)	    (190,317)

	     Total Trading Equity	6,394,098	10,053,260

Interest receivable (Morgan Stanley DW)	        21,950	          26,764
Due from Morgan Stanley DW	         20,315	          26,449

	     Total Assets	    6,436,363	  10,106,473


LIABILITIES AND PARTNERS? CAPITAL

Liabilities

Redemptions payable	423,715	124,761
Accrued management fees	10,718	16,833
Accrued administrative expenses	         5,248	         6,957

	     Total Liabilities	      439,681	     148,551

Partners? Capital

Limited Partners (6,373.248 and
  8,693.851 Units, respectively)	5,901,977	 9,842,147
General Partner (102.267 Units)	        94,705	     115,775

	     Total Partners? Capital	    5,996,682	  9,957,922

	     Total Liabilities and Partners? Capital                                              	    6,436,363	10,106,473


NET ASSET VALUE PER UNIT	        926.05	    1,132.08
<fn>
	The accompanying notes are an integral part
	of these financial statements.
</table>

<page> <table> 	DEAN WITTER WORLD CURRENCY FUND L.P.
	STATEMENTS OF OPERATIONS
(Unaudited)

	                       <caption>



             For the Three Months	                         For the Six Months
  	                 Ended June 30,     	                        Ended June 30,


                         2006   	         2005    	       2006   	     2005
                       $	               $	           $	 	   $

	      <c>	<c>		<c>	<c>

INVESTMENT INCOME
	Interest income (Morgan Stanley DW)	     70,616		      62,816 		    151,119		           123,546

EXPENSES
	Brokerage commissions (Morgan Stanley DW)	119,187	151,874	232,335		315,824
	Management fees	        35,588	    55,616	 80,907		   114,600
	Administrative expenses	        5,248	         7,147	     11,136		        14,691

		   Total Expenses 	    160,023	     214,637	    324,378		       445,115

NET INVESTMENT LOSS 	     (89,407)	    (151,821)	   (173,259)		     (321,569)

TRADING RESULTS
Trading profit (loss):
	Realized	(750,058) 	(296,528)	(1,544,628)		(1,073,771)
	Net change in unrealized	    366,856	   1,379,362 	      65,246		         (153,736)

		   Total Trading Results	   (383,202)	    1,082,834	   (1,479,382)  	          (1,227,507)

NET INCOME (LOSS)	    (472,609)	       931,013	    (1,652,641)		  (1,549,076)

NET INCOME (LOSS) ALLOCATION

	Limited Partners	(465,857)	  918,557            (1,631,571)		(1,530,020)
	General Partner 	(6,752)	12,456                	 (21,070)	(19,056)


NET INCOME (LOSS) PER UNIT

	Limited Partners                                                	        (66.03)	   94.89                 (206.03)	(145.18)
	General Partner                                                	(66.03)	              94.89                 (206.03)		(145.18)


<fn>


	The accompanying notes are an integral part
	of these financial statements.
</table>
<page> <table> 	DEAN WITTER WORLD CURRENCY FUND L.P.
	STATEMENTS OF CHANGES IN PARTNERS? CAPITAL
	For the Six Months Ended June 30, 2006 and 2005
	(Unaudited)



<caption>

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


	<c>	<c>	<c>	<c>
Partners? Capital,
	December 31, 2004	10,405.662	13,629,656	174,134	13,803,790

Net Loss                                                               ?   	 	(1,530,020)	(19,056)
	(1,549,076)

Redemptions	      (682.027)	    (767,336)	      ?     	    (767,336)

Partners? Capital,
	June 30, 2005	   9,723.635	11,332,300	155,078	11,487,378




Partners? Capital,
	December 31, 2005	    8,796.118	  9,842,147	115,775	  9,957,922
Net Loss                                                               ?   	 	(1,631,571)	(21,070)
	(1,652,641)

Redemptions	   (2,320.603)	  (2,308,599)	      ?     	    (2,308,599)

Partners? Capital,
	June 30, 2006	   6,475.515	  5,901,977	  94,705	   5,996,682






<fn>





The accompanying notes are an integral part
	of these financial statements.
</table>


<page> <table> 	DEAN WITTER WORLD CURRENCY FUND L.P.
	STATEMENTS OF CASH FLOWS
(Unaudited)



<caption>

	    For the Six Months Ended June 30,

	      2006     	      2005
	     $	      $


	<c>	<c>
CASH FLOWS FROM OPERATING ACTIVITIES

Net loss		(1,652,641)	         (1,549,076)
Noncash item included in net loss:
	Net change in unrealized	(65,246)	153,736

(Increase) decrease in operating assets:
	Restricted cash	273,936	-
	Interest receivable (Morgan Stanley DW)	4,814	(3,695)
	Due from Morgan Stanley DW	6,134	(19,474)

Decrease in operating liabilities:
	Accrued management fees	(6,115)	(3,768)
	Accrued administrative expenses	      (1,709)	         (1,061)

Net cash used for operating activities	  (1,440,827)	                (1,423,338)


CASH FLOWS FROM FINANCING ACTIVITIES

Cash paid for redemptions of Units	   (2,009,645)	   (707,339)

Net cash used for financing activities	   (2,009,645)	    (707,339)

Net decrease in unrestricted cash	  (3,450,472)	(2,130,677)

Unrestricted cash at beginning of period	     9,844,300	  12,945,037

Unrestricted cash at end of period	     6,393,828	  10,814,360




<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

June 30, 2006

(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, 2005 Annual Report
on Form 10-K.  Certain prior year amounts relating to cash balances
were reclassified on the Statements of Financial Condition and the
related Statements of Cash Flows to conform to 2006 presentation.
Such reclassifications have no impact on the Partnership?s reported
net income (loss).

1.  Organization
Dean Witter World Currency Fund L.P. is a Delaware limited
partnership organized in 1992 to engage primarily in the
speculative trading of futures contracts, options on futures
contracts, and forward contracts on foreign currencies.

The Partnership?s general partner is Demeter Management Corporation
(?Demeter?).  The non-clearing commodity broker is Morgan Stanley
DW Inc. (?Morgan Stanley DW?).  The clearing

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

commodity broker is Morgan Stanley & Co. Incorporated (?MS &
Co.?).  Demeter, Morgan Stanley DW, and MS & Co. are wholly-owned
subsidiaries of Morgan Stanley.

Effective July 31, 2006, Demeter terminated trading within the
Partnership.  In connection with the termination of trading,
effective July 31, 2006, Demeter terminated the management
agreements with Millburn Ridgefield Corporation and John W. Henry &
Company, Inc. (individually, a ?Trading Advisor?, or
collectively, the ?Trading Advisors?), pursuant to which the
Trading Advisors trade the Partnership?s assets in futures,
options, and forward currency markets.  The following management
agreements were terminated: (i) the Management Agreement dated as
of April 2, 1993, and amended as of November 30, 2000, among the
Partnership, Demeter, and Millburn Ridgefield Corporation and (ii)
the Management Agreement dated as of June 1, 1995, and amended as
of November 30, 2000, among the Partnership, Demeter, and John W.
Henry & Company Inc.

In accordance with the Partnership?s Limited Partnership Agreement,
Demeter plans to liquidate the Partnership in an orderly manner,
and as a result, has changed it basis of accounting from the going
concern basis to the liquidation basis

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

whereby assets and liabilities are stated at their estimated
settlement amounts and all costs of liquidation have been
recognized.  The adoption of the liquidation basis of accounting
did not have a material effect on the carrying values of assets and
liabilities as of June 30, 2006.

2.  Related Party Transactions
Before termination of trading within the Partnership on July 31,
2006, the Partnership?s cash was on deposit with Morgan Stanley DW
and MS & Co. in futures, forwards, and options trading accounts to
meet margin requirements as needed.  Monthly, Morgan Stanley DW
paid the Partnership interest income equal to 80% of the average
daily Net Assets for the month at a rate equal to average yield on
13-week U.S. Treasury bills.  The Partnership paid brokerage
commissions to Morgan Stanley DW.

Effective July 31, 2006, 100% of the Partnership?s cash is on
deposit with Morgan Stanley DW, which pays the Partnership monthly
interest income on the average daily Net Assets for the month at a
rate equal to the average yield on 13-week U.S. Treasury bills. The
Partnership no longer pays any brokerage commissions or management
fees.

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

3.  Financial Instruments
Prior to the termination of trading, the Partnership traded 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.

The market value of exchange-traded contracts is based on the
settlement price quoted by the exchange on the day with respect
to which market value is being determined.  If an exchange-traded
contract could not have been liquidated on such day due to the
operation of daily limits or other rules of the exchange, the
settlement price shall be the settlement price on the first
subsequent day on which the contract could be liquidated.  The
market value of off-exchange-traded contracts is based on the
fair market value quoted by the counterparty.

The Partnership?s contracts are accounted for on a trade-date
basis and marked to market on a daily basis.  The Partnership

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

accounts for its derivative investments in accordance with the
provisions of Statement of Financial Accounting Standards 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 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 Losses
                        on Open Contracts               Longest Maturities
	               Exchange-    Off-Exchange-	            Exchange-  Off-Exchange-
Date            Traded        Traded         Total	     Traded     Traded
                   $             $             $
Jun. 30, 2006   	 -           (125,071)	(125,071)     -	   	Sep. 2006
Dec. 31, 2005	 -	        (190,317)       (190,317)     -	       Mar. 2006

Prior to the termination of trading, the Partnership had credit
risk associated with counterparty non-performance.  As of the date
of the financial statements, the credit risk associated with the
instruments in which the Partnership traded is limited to the
amounts reflected in the Partnership?s Statements of Financial
Condition.

Prior to the termination of trading, the Partnership also had
credit risk because Morgan Stanley DW and MS & Co. acted as the
futures commission merchants or the counterparties, with respect to
most of the Partnership?s assets. Exchange-traded futures, forward,
and futures-styled options contracts are marked to market on a
daily basis, with variations in value settled on a daily basis.
Morgan Stanley DW and MS & Co., each as a futures commission
merchant for the Partnership?s exchange-traded futures, forward,
and futures-styled options contracts, were required, pursuant to
regulations of the Commodity Futures Trading Commission (?CFTC?),
to segregate from their own assets, and for

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

the sole benefit of their commodity customers, all funds held by
them with respect to exchange-traded futures, forward, and futures-
styled options contracts, including an amount equal to the net
unrealized gains (losses) on all open futures, forward, and
futures-styled options contracts.  With respect to the
Partnership?s off-exchange-traded forward currency contracts,
there were no daily exchange-required settlements of variation in
value, nor was there any requirement that an amount
equal to the net unrealized gains (losses) on open forward
contracts be segregated.  However, the Partnership was required to
meet margin requirements equal to the net unrealized loss on open
contracts in the Partnership accounts with the counterparty,
which was accomplished by daily maintenance of the cash balance in
a custody account held at Morgan Stanley DW for the benefit of MS &
Co.  With respect to those off-exchange-traded forward currency
contracts, the Partnership was at risk to the ability of MS & Co.,
the sole counterparty on all such contracts, to perform.  The
Partnership had a netting agreement with MS & Co.  This agreement,
which sought to reduce both the Partnership?s and MS & Co.?s
exposure on off-exchange-traded forward currency contracts, was
intended 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.  Prior to the termination of trading, the Partnership
deposited its assets with Morgan Stanley DW as non-clearing broker
and MS & Co. as clearing broker in separate futures, forwards, and
options trading accounts established for each Trading Advisor.
Such assets were used as margin to engage in trading and were used
as margin solely for the Partnership?s trading. The assets were
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 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
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.
<page> For the periods covered by this report, illiquidity has not
materially affected the Partnership?s assets.

Effective July 31, 2006, the Partnership?s assets are on deposit
with Morgan Stanley DW and are not used for trading.

There are no known material trends, demands, commitments, events,
or uncertainties at the present time that are reasonably likely to
result in the Partnership?s liquidity increasing or decreasing in
any material way.

Capital Resources.  The Partnership does not have, nor expects to
have, any capital assets.  In connection with the July 31, 2006,
termination of trading on behalf of the Partnership, Demeter will
commence dissolution of the Partnership, including final redemption
of units of limited partnership interest (?Unit(s)?) and
distribution of capital to the partners, in accordance with the
Partnership?s Limited Partnership Agreement.  Following this final
distribution of capital, the Partnership will not have any capital
resource arrangements.

Off-Balance Sheet Arrangements and Contractual Obligations.  The
Partnership does not have any off-balance sheet arrangements, nor
does it have contractual obligations or commercial commitments to
make future payments that would affect its liquidity or capital
resources.
<page> Results of Operations
General.  The Partnership?s results depend on the Trading Advisors
and the ability of each Trading Advisor?s trading program(s) to take
advantage of price movements in the futures, forwards, and options
markets.  The following presents a summary of the Partnership?s
operations for the three and six month periods ended June 30, 2006
and 2005, 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 during the period in question. Past performance is no
guarantee of future results.

The Partnership?s results of operations set forth in the financial
statements on pages 2 through 12 of this report are prepared in
accordance with accounting principles generally accepted in the
United States of America, which require the use of certain
accounting policies that affect the amounts reported in these
financial statements, including the following:  The contracts the
Partnership trades are accounted for on a trade-date basis and
marked to market on a daily basis.  The difference between their
cost and market value is recorded on the Statements of Operations
<page> as ?Net change in unrealized trading profit (loss)? for open
(unrealized) contracts, and recorded as ?Realized trading profit
(loss)? when open positions are closed out.  The sum of these
amounts constitutes the Partnership?s trading results.  The market
value of a futures contract is the settlement price on the exchange
on which that futures contract is traded on a particular day.  The
value of foreign currency forward contracts is based on the spot
rate as of the close of business.  Interest income, as well as
management fees, incentive fees, and brokerage commissions expenses
of the Partnership are recorded on an accrual basis.

Demeter believes that, based on the nature of the operations of the
Partnership, no assumptions relating to the application of critical
accounting policies other than those presently used could
reasonably affect reported amounts.



For the Three and Six Months Ended June 30, 2006

The Partnership recorded total trading results including interest
income totaling $(312,586) and expenses totaling $160,023,
resulting in a net loss of $472,609 for the three months ended
June 30, 2006.  The Partnership?s net asset value per Unit
decreased from $992.08 at March 31, 2006 to $926.05 at June 30,
2006.

Trading losses of approximately 3.8%, 1.5%, 1.1%, 0.4%, 0.4%, and
0.4%, respectively, were experienced from short positions in the
<page> Japanese yen, Swiss franc, Australian dollar, Swedish
krone, Hungarian forint, and Czech koruna, respectively as the
U.S. dollar weakened on news that foreign central banks,
including Russia, Sweden, and several Middle Eastern central
banks, were diversifying their currency reserves away from the
U.S. dollar. Also pressuring the value of the U.S. dollar lower
were concerns over the steep U.S. trade deficit and speculation
that the U.S. Federal Reserve may be near the end of its interest
rate tightening campaign. In addition to the U.S. dollar
weakening, the Japanese yen strengthened on speculation of a
possible Bank of Japan interest rate hike, while the Swiss franc
moved higher on political tensions in the Middle East. The
Australian dollar also moved higher on an unexpected interest
rate hike by the Reserve Bank of Australia in May. Additional
losses of 1.8% and 0.4%, respectively, were incurred during June
from long positions in the British pound and Canadian dollar
relative to the U.S dollar as the U.S. dollar reversed higher
after hawkish comments from several U.S. Federal Reserve
officials, including U.S. Federal Reserve Chairman Ben Bernanke,
implied another interest rate hike was necessary to help contain
rising inflation. The value of the U.S. dollar continued to move
higher leading up to the seventeenth consecutive interest rate
hike by the U.S. Federal Reserve on June 29th. The U.S. dollar
also strengthened after positive steps were taken regarding the
nuclear standoff between Iran and the U.S., easing worries of a
possible oil supply disruption. Conversely, the value of the
<page> British pound declined against its major rivals on
economic data showing the unemployment rate in the United Kingdom
at its highest level since September 2002. Additional losses were
incurred during June from newly established long positions in the
Hungarian forint and Czech koruna as the value of the U.S. dollar
strengthened against these currencies for the aforementioned
reasons. Smaller losses of 0.7% and 0.6%, respectively, were
incurred from short positions in the U.S. dollar relative to the
Brazilian real and Turkish lira as the value of these currencies
fell sharply in May amid weakness in the emerging markets. A
portion of the Partnership?s losses in the second quarter was
offset by gains of approximately 3.2% and 0.2%, respectively,
recorded from long positions in the euro and Singapore dollar
against the U.S. dollar as the U.S. dollar weakened.
Additionally, the euro strengthened after Dutch Finance Minister
Gerritt Zalm said that the European Central Bank will not
intervene to halt the appreciation of the euro, as well as on
increased expectations of an interest rate hike in the near-
future by the European Central Bank. Additional gains of 0.5%
were experienced in short positions in the South African rand
versus the U.S. dollar as the rand fell in tandem with falling
commodities prices, news that South Africa?s Current-Account
deficit widened to a 24-year high and expectations that the
country?s Gross Domestic Product growth will be weaker-than-
expected. Smaller gains of 0.2% were experienced during May from
<page> short positions in the Indian rupee versus the U.S. dollar
as the value of the emerging market currency declined sharply.


The Partnership recorded total trading results including interest
income totaling $(1,328,263) and expenses totaling $324,378
resulting in a net loss of $1,652,641 for the six months ended
June 30, 2006.  The Partnership?s net asset value per Unit
decreased from $1,132.08 at December 31, 2005 to $926.05 at June
30, 2006.

Significant trading losses of approximately 7.6%, 2.4%, 1.7%, and
1.3%, respectively, resulted from short positions in the Japanese
yen, Swiss franc, Australian dollar and Norwegian krone versus
the U.S. dollar. During April and May, the U.S. dollar moved
lower on news that foreign central banks are beginning to
diversify their currency reserves away from U.S. dollar-
denominated assets, as well as uncertainty regarding the future
of the U.S. Federal Reserve?s interest rate tightening campaign.
The Japanese yen and Swiss franc moved higher against the U.S.
dollar during January and February as strong economic data out of
the two regions increased speculation that the Bank of Japan and
European Central Bank may raise interest rates. During April, the
Japanese yen strengthened on speculation of a possible Bank of
Japan interest rate hike, while the Swiss franc moved higher on
political tensions in the Middle East. The Australian dollar also
moved higher on an unexpected interest rate hike by the Reserve
<page> Bank of Australia in May. Additional losses of
approximately 2.5% were incurred from long positions in the
British pound relative to the U.S dollar as the U.S. dollar
reversed higher in June after hawkish comments from several U.S.
Federal Reserve officials, including U.S. Federal Reserve
Chairman Ben Bernanke, implied another interest rate hike was
necessary to help contain rising inflation. The value of the U.S.
dollar continued to move higher leading up to the seventeenth
consecutive interest rate hike by the U.S. Federal Reserve on
June 29th. The U.S. dollar also strengthened after positive steps
were taken regarding the nuclear standoff between Iran and the
U.S., easing worries of a possible oil supply disruption. The
value of the British pound declined further against the U.S.
dollar on economic data showing the unemployment rate in the
United Kingdom at its highest level since September 2002. Further
losses of approximately 1.0% and 1.0%, respectively, were
incurred during March, from long positions in the Canadian dollar
and the Mexican peso against the U.S. dollar as the value of the
Canadian dollar decreased on sentiment that the Bank of Canada
has reached the end of its rate increases, while the Mexican peso
weakened on political uncertainty in the country.   Smaller
losses of approximately 1.3%, 0.8%, 0.6%, 0.6%, respectively,
were experienced during a majority of the first six months of the
year from positions in the Czech koruna, Swedish krona, Hungarian
forint, and Polish zloty versus the U.S. dollar as the value of
these currencies experienced trendless movement. Additional
<page> losses of 0.6% and 0.5%, respectively, were incurred from
short positions in the U.S. dollar relative to the Brazilian real
and Turkish lira as the value of these currencies fell sharply in
May amid weakness in the emerging markets. A portion of the
Partnership?s losses in the first six months of the year was
offset by gains of 0.7% recorded from short positions in the
South African rand versus the U.S. dollar as the value of the
rand weakened against the U.S. dollar during June as the
?commodity-currency? fell in tandem with falling gold prices.
Additional gains of 1.1% and 0.2%, respectively, were experienced
from long positions in the euro and Singapore dollar against the
U.S. dollar as the value of the U.S. dollar weakened against
these currencies. Also, the euro strengthened relative to the
U.S. dollar after Dutch Finance Minister Gerritt Zalm said that
the European Central Bank will not intervene to halt the
appreciation of the euro, as well as on increased expectations of
an interest rate hike in the near-future by the European Central
Bank. Smaller gains of 0.2% were experienced during May from
short positions in the Indian rupee versus the U.S. dollar as the
value of the emerging market currency declined sharply.

For the Three and Six Months Ended June 30, 2005

The Partnership recorded total trading results including interest
income totaling $1,145,650 and expenses totaling $214,637,
resulting in net income of $931,013 for the three months ended
June 30, 2005.  The Partnership?s net asset value per Unit <page>
increased from $1,086.50 at March 31, 2005 to $1,181.39 at June
30, 2005.

The most significant trading gains of approximately 6.2% and
0.9%, respectively, resulted during May and June from short
positions in the euro and Swiss franc versus the U.S. dollar.
During May, the U.S. dollar increased after China downplayed
rumors of a move toward a flexible exchange rate, while the value
of the euro and Swiss franc moved lower on weaker-than-expected
French economic data and the rejection of a proposed European
Union constitution by French voters.  During June, short euro and
Swiss franc positions continued to profit as European currency
values declined amid market pessimism for future European
integration, the release of weak European economic data, and
greater-than-expected capital outflows into U.S. markets, which
also benefited the U.S. dollar.  The U.S. dollar also increased
following the ninth consecutive quarter-point increase in U.S.
interest rates. Additional Partnership gains of approximately
1.9% and 1.5%, respectively, were recorded primarily during May
and June from long positions in the Brazilian real and Mexican
peso versus the U.S. dollar as the value of these currencies
moved higher after Brazil?s Minister of Finance reported
increased foreign investment in Brazil and Mexico?s Central Bank
representatives elected not to change Mexico?s monetary policy.
During June, the peso?s value moved higher amid comments from
Mexico?s Finance Minister, Francisco Gil Diaz, that the Mexican
<page> economy was on track to meet the government's growth
estimates for the year.  Further Partnership gains of
approximately 2.0% were experienced from short positions in the
Japanese yen versus the U.S. dollar as the yen?s value declined
during May and June in response to weak Japanese economic data.
A portion of Partnership?s overall gains was offset by losses of
approximately 2.5% recorded from long positions in the British
pound versus the U.S. dollar as the pound?s value declined during
May after British Prime Minister Tony Blair's Labour Party re-
election with a reduced government majority, and then moved lower
during June on growing speculation the interest rate differential
between the U.S. and the U.K. would tighten.  Smaller Partnership
losses of approximately 0.9% stemmed from long positions in the
Australian dollar versus the U.S. dollar as the Australian dollar
declined amid falling gold prices, primarily during May.

The Partnership recorded total trading results including interest
income totaling $(1,103,961) and expenses totaling $445,115,
resulting in a net loss of $1,549,076 for the six months ended
June 30, 2005. The Partnership?s net asset value per Unit
decreased from $1,326.57 at December 31, 2004 to $1,181.39 at
June 30, 2005.


The most significant trading losses of approximately 4.7%, 1.1%,
and 1.1%, respectively, resulted from positions in the South
African rand, Australian dollar, and New Zealand dollar <page>
(collectively the ?Commodity Currencies?), versus the U.S.
dollar.  During the first quarter, losses resulted as the
Commodity Currency values traded counter to the U.S. dollar due
to a variety of macro-economic stimuli that caused the U.S.
dollar?s value to advance.  During the second quarter, the
Commodity Currencies were impacted by speculation for higher
interest rates and falling gold prices.  Additional Partnership
losses of approximately 2.4% were incurred from long positions in
the British pound versus the U.S. dollar as the pound?s value
declined during May after British Prime Minister Tony Blair's
Labour Party re-election with a reduced government majority, and
then moved lower during June on growing speculation the interest
rate differential between the U.S. and the U.K. would tighten.
Smaller Partnership losses of approximately .09% and .02%,
respectively, were experienced from positions in the euro and
Swiss franc versus the U.S. dollar primarily during the first
quarter after the U.S. dollar?s value moved higher during January
amid improvements in the U.S. Current-Account, speculation for
higher U.S. interest rates, and news that the Chinese government
postponed its revaluation of the Chinese yuan.  During February,
losses were incurred from short European currency positions as
the U.S. dollar?s value weakened against these currencies due to
concerns for the U.S. Current-Account deficit as expressed by
Federal Reserve Chairman Alan Greenspan.  During early March,
short positions continued to experience losses as their values
rose amid a sharp rise in German industrial production data.  A
<page> portion of the Partnership?s overall losses for the first
six months of the year was offset by gains of approximately 0.8%
experienced from short positions in the Japanese yen versus the
U.S. dollar as the yen?s value declined during May and June in
response to weak Japanese economic data.


Item 3.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Introduction
The Partnership is a commodity pool that prior to the termination
of trading on July 31, 2006, was engaged primarily in the
speculative trading of futures, forwards, and options.  The market-
sensitive instruments held by the Partnership were acquired for
speculative trading purposes only and, as a result, all or
substantially all of the Partnership?s assets were at risk of
trading loss.  Unlike an operating company, the risk of market-
sensitive instruments was inherent to the primary business activity
of the Partnership.

The futures, forwards, and options traded by the Partnership
involved 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, factors that result in frequent
changes in the fair value of the Partnership?s open positions,
and consequently in its earnings, whether realized or unrealized,
and cash flow.  Gains and losses on open positions of exchange-
<page> traded futures, forwards, and options are settled daily
through variation margin.  Gains and losses on off-exchange-
traded forward currency contracts are settled upon termination of
the contract, however, prior to the termination of trading the
Partnership was required to meet margin requirements equal to the
net unrealized loss on open contracts in the Partnership accounts
with the counterparty, which was accomplished by daily
maintenance of the cash balance in a custody account held at
Morgan Stanley DW for the benefit of MS & Co.

The face value of the market sector instruments held by the
Partnership was typically many times the applicable margin
requirements.  Margin requirements generally range between 2% and
15% of contract face value.  Additionally, the use of leverage
caused the face value of the market sector instruments held by
the Partnership to typically be many times the total
capitalization of the Partnership.

Limited partners will not be liable for losses exceeding the
current net asset value of their investment.

As of the termination of trading within the Partnership on July
31, 2006, the Partnership is no longer exposed to market risk.


Quantifying the Partnership?s Trading Value at Risk
The following quantitative disclosures regarding the Partnership?s
market risk exposures contain ?forward-looking statements? within
<page> 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.

Prior to termination of trading, the Partnership accounted for open
positions on the basis of 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 and cash flow.

The Partnership?s risk exposure in the market sectors traded by
the Trading Advisors is estimated below in terms of VaR.  The
Partnership estimates VaR using a model based upon historical
simulation (with a confidence level of 99%) which involves
constructing a distribution of hypothetical daily changes in the
value of a trading portfolio.  The VaR model takes into account
linear exposures to risk including 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 one-day 99% confidence level of the
<page> 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, or one day in
100. VaR typically does not represent the worst case outcome.
Demeter uses approximately four years of daily market data (1,000
observations) and re-values its portfolio (using delta-gamma
approximations) for each of the historical market moves that
occurred over this time period.  This generates a probability
distribution of daily ?simulated profit and loss? outcomes.  The
VaR is the appropriate percentile of this distribution.  For
example, the 99% one-day VaR would represent the 10th worst outcome
from Demeter?s simulated profit and loss series.

The Partnership?s VaR computations are based on the risk
representation of the underlying benchmark for each instrument or
contract and do not distinguish between exchange and non-exchange
dealer-based instruments.  They are also not based on exchange
and/or dealer-based maintenance margin requirements.

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.
<page> Please further note that VaR as described above may not be
comparable to similarly-titled measures used by other entities.

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 June 30, 2006 and 2005.  At June
30, 2006 and 2005, the Partnership?s total capitalization was
approximately $6 million and $11 million, respectively.

Primary Market         June 30, 2006	      June 30, 2005
Risk Category	  	   Value at Risk	      Value at Risk

Currency                    (1.61)%                (4.05)%

The VaR for a market category represents the one-day downside risk
for the aggregate exposures associated with this market category.

The table below supplements the quarter-end VaR set forth above
by presenting the Partnership?s high, low, and average VaR, as a
percentage of total Net Assets for the four quarter-end reporting
periods from July 1, 2005 through June 30, 2006.

Primary Market Risk Category        High        Low      Average
Currency  	(3.08)%	(1.46)%	(2.30)%



<page> Limitations on Value at Risk as an Assessment of Market
Risk
VaR models permit estimation of a portfolio?s aggregate market risk
exposure, incorporating a range of varied market risks; reflect
risk reduction due to portfolio diversification or hedging
activities; and can cover a wide range of portfolio assets.
However, VaR risk measures should be viewed in light of the
methodology?s limitations, which include, but may not be limited to
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 market fluctuations applied to current
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.

<page> In addition, the VaR tables above, as well as the past
performance of the Partnership, give no indication of the
Partnership?s potential ?risk of ruin?.

The VaR tables provided present the results of the Partnership?s
VaR for its market risk exposure at June 30, 2005, and for the four
quarter-end reporting periods from July 1, 2005 through June 30,
2006.  VaR is not necessarily representative of the Partnership?s
historic risk, nor should it be used to predict 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 once
in 100 trading days.

Non-Trading Risk
The Partnership has non-trading market risk on its foreign cash
balances.  The Partnership did not have any foreign currency
balances at June 30, 2006.

The Partnership also maintains a substantial portion of its
available assets in cash at Morgan Stanley DW; as of June 30,
2006, such amount is equal to approximately 111% of the
Partnership?s net asset value.  A decline in short-term interest
rates would result in a decline in the Partnership?s cash <page>
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
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. Prior to the termination of trading, 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, were subject to numerous
uncertainties, contingencies and risks, any one of which could
have caused 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 <page> price relationships, an
influx of new market participants, increased regulation, and many
other factors could have resulted in material losses, as well as
in material changes to the risk exposures and the risk management
strategies of the Partnership.

The following was the only trading risk exposure of the
Partnership at June 30, 2006.  As of the termination of trading
within the Partnership on July 31, 2006, the Partnership no
longer has any trading risk exposure.

Currency.  The Partnership?s currency market exposure at June 30,
2006 was 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 a large number of
currencies, including cross-rates - i.e., positions between two
currencies other than the U.S. dollar.  At June 30, 2006, the
Partnership?s major exposures were to the Swiss franc, British
pound, euro, Mexican peso, Australian dollar, Turkish lira,
Japanese yen, New Zealand dollar, and Swedish krona currency
crosses, as well as to 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 associated with the <page>
Partnership?s currency trades will change significantly in the
future.

Qualitative Disclosures Regarding Non-Trading Risk Exposure
The following was the only non-trading risk exposure of the
Partnership at June 30, 2006:
	Foreign Currency Balances.  At June 30, 2006, there was
	no non-trading risk exposure because the Partnership did not
	have any foreign currency balance.

Qualitative Disclosures Regarding Means of Managing Risk Exposure
Prior to the termination of trading, the Partnership and the
Trading Advisors, separately, attempted to manage the risk of the
Partnership?s open positions in essentially the same manner in all
market categories traded.  Demeter managed market exposure by
diversifying the Partnership?s assets among different Trading
Advisors in a multi-advisor Partnership, each of whose strategies
focus on different trading approaches, and by monitoring the
performance of the Trading Advisors daily.  In addition, the
Trading Advisors established 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.
<page>
Item 4.  CONTROLS AND PROCEDURES


(a)	As of the end of the period covered by this quarterly
report, the President and Chief Financial Officer of
Demeter, the general partner of the Partnership, have
evaluated the effectiveness of the Partnership?s
disclosure controls and procedures (as defined in Rules
13a-15(e) and 15d-15(e) of the Exchange Act), and have
judged such controls and procedures to be effective.

(b)	There have been no material changes during the period
covered by this quarterly report in the Partnership?s
internal control over financial reporting (as defined in
Rules 13a-15(f) and 15d-15(f) of the Exchange Act) or in
other factors that could significantly affect these
controls subsequent to the date of their evaluation.




<page> PART II.  OTHER INFORMATION
Item 1A. RISK FACTORS
Information regarding risk factors appears in Item 2.
?Management?s Discussion and Analysis of Financial Condition and
Results of Operations? and Item 3.  ?Quantitative and Qualitative
Disclosures about Market Risk? of this Form 10-Q.  There have been
no other material changes from the risk factors previously
referenced in the Partnership?s Report on Form 10-K for the fiscal
year ended December 31, 2005 and the Partnership?s Report on Form
10-Q for the quarter ended March 31, 2006.

Item 5.  OTHER INFORMATION
Effective July 31, 2006, Demeter terminated all trading on behalf
of the Partnership.  In connection with the termination of trading
on behalf of the Partnership, effective July 31, 2006, Demeter
terminated the following management agreements with the Trading
Advisors of the Partnership, pursuant to which the Trading Advisors
trade the Partnership?s assets in futures, options, and forward
currency markets: (i) the Management Agreement dated as of April 2,
1993, and amended as of November 30, 2000, among the Partnership,
Demeter, and Millburn Ridgefield Corporation and (ii) the
Management Agreement dated as of June 1, 1995, and amended as of
November 30, 2000, among the Partnership, Demeter, and John W.
Henry & Company, Inc. (collectively, the ?Management
Agreements?). There are no penalties that have been incurred by
any of the <page> parties as a result of the termination of the
Management Agreements.

In connection with the termination of trading on behalf of the
Partnership, Demeter will commence dissolution of the Partnership
pursuant to the Partnership?s Limited Partnership Agreement dated
as of December 8, 1992.

Management.  In connection with the election of new directors to
the Board of Directors of Demeter, the following information
updates the disclosures in the Partnership?s Form 8-K filed on
March 27, 2006 and Form 8-K filed on April 5, 2006:

On May 11, 2006, the National Futures Association approved Mr.
Walter Davis, Mr. Michael McGrath, and Mr. Andrew Saperstein as
directors of Demeter.

On July 20, 2006, the National Futures Association approved Mr.
Walter Davis as an associated person of Demeter.

Item 6.  EXHIBITS

31.01	Certification of President of Demeter Management
Corporation, the general partner of the Partnership,
pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.02	Certification of Chief Financial Officer of Demeter
Management Corporation, the general partner of the
Partnership, pursuant to Section 302 of the Sarbanes-Oxley
Act of 2002.
<page>
32.01	Certification of President of Demeter Management
Corporation, the general partner of the Partnership,
pursuant to 18 U.S.C. Section 1350, as adopted pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002.
32.02	Certification of Chief Financial Officer of Demeter
Management Corporation, the general partner of the
Partnership, pursuant to 18 U.S.C. Section 1350, as
adopted pursuant to Section 906 of the Sarbanes-Oxley Act
of 2002.










<page>



SIGNATURE



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



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

                       By: Demeter Management Corporation
                           (General Partner)

August 14, 2006        By:/s/Kevin Perry
                             Kevin Perry
                             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.









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