<PAGE>
Dreyfus
Worldwide Dollar
Money Market
Fund, Inc.
Semi-Annual
Report
April 30, 1995
<PAGE>
Letter to Shareholders
- ------------------------------------------------------------------------------
Dear Shareholder:
For the six months ended April 30, 1995, the annualized yield of the Dreyfus
Worldwide Dollar Money Market Fund reached 5.06%, which is the equivalent of an
annualized effective yield of 5.18% after taking into account the effect of
compounding.*
In the first quarter of 1995, as more evidence came in of a slowdown in the
U.S. economy, short-term interest rates receded from December 1994 highs.
Recently, signs of an economic slowdown have been more frequent, causing rates
to continue trading lower. Accordingly, we have continued to lengthen the
average maturity of the Fund in order to capture higher yields.
The slowdown of the economy is a direct result of the credit tightening
policies that the Federal Reserve Board has pursued for more than a year. The
Fed's intention was to curb excessive growth of the economy, thereby
restraining inflation. That program appears to have achieved its objectives.
We must be on the lookout lest this much-desired "soft landing" for the economy
cause a slide into a full-blown recession. At the moment, that does not appear
likely. Yet, if it should happen, the Federal Reserve might feel obliged to
reverse course and start reducing interest rates.
We are managing the Fund's portfolio with these considerations in mind. As you
know, the Fund can take advantage of short-term money market instruments in
dollar- denominated markets abroad as well as at home. Our aim is to use this
global investment flexibility to continue bringing you highly competitive
yields on your cash equivalent assets.
Sincerely,
Patricia A. Larkin
Portfolio Manager
May 17, 1995
New York, N.Y.
* Annualized effective yield is based upon dividends declared daily and
reinvested monthly.
<PAGE>
Dreyfus Worldwide Dollar Money Market Fund, Inc.
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Statement of Investments April 30, 1995 (Unaudited)
Principal
Negotiable Bank Certificates of Deposit--35.4% Amount Value
- ---------------------------------------------- ------------ --------------
Bank of Tokyo Ltd. (Yankee)
6.14%-6.71%, 5/10/95-5/23/95 ............. $ 90,000,000 $ 89,998,484
Chase Manhattan Bank NA (London)
6.75%, 6/6/95 ............................ 50,000,000 50,000,000
Commerzbank AG (Yankee)
6.52%, 6/19/95 ........................... 15,000,000 14,999,286
Dai-Ichi Kangyo Bank Ltd. (Yankee)
6.04%-6.65%, 5/17/95-1/29/96 ............. 80,000,000 80,004,708
Fuji Bank Ltd. (Yankee)
6.21%, 6/20/95 ........................... 25,000,000 25,000,000
Industrial Bank of Japan Ltd. (Yankee)
6.44%-6.75%, 5/22/95-6/5/95 .............. 77,000,000 77,000,000
Mitsubishi Bank Ltd. (Yankee)
6.40%-6.57%, 5/25/95-12/18/95 ............ 110,000,000 110,061,159
Norinchukin Bank (Yankee)
6.17%, 5/22/95 ........................... 25,000,000 25,000,287
Sanwa Bank Ltd. (London)
6.42%, 10/5/95 ........................... 50,000,000 50,002,112
Sanwa Bank Ltd. (Yankee)
6.27%-6.64%, 5/8/95-7/17/95 .............. 55,000,000 54,999,980
Societe Generale (Yankee)
6.74%, 6/5/95 ............................ 35,000,000 35,000,331
Sumitomo Bank Ltd. (Yankee)
6.31%-6.71%, 5/12/95-7/24/95 ............. 69,000,000 69,000,173
SwedBank (Yankee)
6.13%-6.65%, 5/5/95-5/15/95 .............. 100,000,000 100,000,000
--------------
TOTAL NEGOTIABLE BANK CERTIFICATES OF DEPOSIT
(cost $781,066,520) ...................... $ 781,066,520
--------------
--------------
Bankers' Acceptances--2.2%
- ----------------------------------------------
Dai-Ichi Kangyo Bank Ltd. (Yankee)
6.77%, 6/8/95 ............................ $ 5,000,000 $ 4,965,272
Fuji Bank Ltd. (Yankee)
6.24%-6.25%, 5/1/95-5/4/95 ............... 13,000,000 12,997,438
Industrial Bank of Japan Ltd. (Yankee)
6.35%, 6/27/95 ........................... 30,000,000 29,705,500
--------------
TOTAL BANKERS' ACCEPTANCES (cost $47,668,210). $ 47,668,210
--------------
--------------
Commercial Paper--33.5%
- ----------------------------------------------
Bear Stearns Companies Inc.
6.13%-6.16%, 7/17/95-8/11/95 ............. $ 45,000,000 $ 44,355,733
Chase Manhattan Corp.
6.32%, 9/18/95 ........................... 25,000,000 24,405,000
Chrysler Financial Corp.
6.40%, 5/1/95 ............................ 50,000,000 50,000,000
<PAGE>
Dreyfus Worldwide Dollar Money Market Fund, Inc.
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Statement of Investments (continued) April 30, 1995 (Unaudited)
Principal
Commercial Paper (continued) Amount Value
- ---------------------------------------------- ------------ --------------
Ford Motor Credit Co.
6.23%-6.33%, 6/23/95-1/9/96 .............. $100,000,000 $ 97,300,868
General Electric Capital Corp.
6.53%, 6/23/95 ........................... 20,000,000 19,812,733
General Electric Capital Services Inc.
6.40%-6.68%, 6/8/95-6/20/95 .............. 25,000,000 24,819,514
General Motors Acceptance Corp.
6.31%-6.63%, 5/16/95-10/13/95 ............ 105,000,000 103,562,458
Merrill Lynch & Co. Inc.
6.23%-6.28%, 6/6/95-7/14/95 .............. 76,000,000 75,214,187
NYNEX Corp.
6.30%-6.59%, 5/5/95-8/14/95 .............. 60,000,000 59,759,458
Sears Roebuck Acceptance Corp.
6.24%-6.40%, 7/17/95-10/2/95 ............. 65,000,000 63,814,200
Spintab, AB
6.20%-6.24%, 6/9/95-9/13/95 .............. 68,500,000 67,720,566
Woolwich Building Society
6.53%-6.68%, 6/12/95-6/19/95 ............. 109,000,000 108,120,431
--------------
TOTAL COMMERCIAL PAPER (cost $738,885,148) ... $ 738,885,148
--------------
--------------
Corporate Notes--3.2%
- ----------------------------------------------
General Electric Capital Corp.
6.28%-6.35%, 2/9/96-4/12/96 (a) .......... $ 45,000,000 $ 44,990,519
Merrill Lynch & Co. Inc.
6.35%, 4/22/96 (a) ....................... 25,000,000 24,992,705
--------------
TOTAL CORPORATE NOTES (cost $69,983,224)...... $ 69,983,224
--------------
--------------
Promissory Notes--4.8%
- ----------------------------------------------
Goldman Sachs Group L.P.
6.25%-6.63%, 6/27/95-1/5/96
(cost $105,000,000) (b,c) ................ $105,000,000 $ 105,000,000
--------------
--------------
Short-Term Bank Notes--4.3%
- ----------------------------------------------
First National Bank of Boston
6.13%-6.25%, 7/11/95-7/19/95 ............. $ 45,000,000 $ 45,000,000
PNC Bank N.A.
6.44%, 12/11/95........................... 50,000,000 50,011,578
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TOTAL SHORT-TERM BANK NOTES (cost $95,011,578) $ 95,011,578
--------------
--------------
<PAGE>
Dreyfus Worldwide Dollar Money Market Fund, Inc.
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Statement of Investments (continued) April 30, 1995 (Unaudited)
Principal
U.S Government Agencies--9.1% Amount Value
- ---------------------------------------------- ------------ --------------
Federal National Mortgage Association,
Consolidated Systemwide, Floating Rate Notes
6.59%-6.67%, 2/14/97-2/18/97
(cost $200,000,000) (a) .................. $200,000,000 $ 200,000,000
--------------
--------------
Time Deposits--5.9%
- ----------------------------------------------
Bayerische Vereinsbank AG (Grand Cayman)
5.94%, 5/1/95 ............................ $ 64,753,000 $ 64,753,000
Berliner Handels-und Frankfurter Bank AG
(Grand Cayman)
6.00%, 5/1/95 ............................ 65,000,000 65,000,000
--------------
TOTAL TIME DEPOSITS (cost $129,753,000) ...... $ 129,753,000
--------------
--------------
TOTAL INVESTMENTS
(cost $2,167,367,680) ............. 98.4% $2,167,367,680
------ --------------
------ --------------
CASH AND RECEIVABLES (NET) ............ 1.6% $ 35,627,190
------ --------------
------ --------------
NET ASSETS ............................ 100.0% $2,202,994,870
------ --------------
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Notes to Statement of Investments:
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(a) Variable interest rate - subject to periodic change.
(b) These notes were acquired for investment, and not with the intent to
distribute or sell.
(c) Securities restricted as to public resale. These securities were acquired
from 2/27/95 to 4/10/95 at a cost of par value. At April 30, 1995, the
aggregate value of these securities is $105 million representing
approximately 4.8% of net assets and are valued at amortized cost.
See independent accountants' review report and notes to financial statements.
<PAGE>
Dreyfus Worldwide Dollar Money Market Fund, Inc.
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Statement of Assets and Liabilities April 30, 1995 (Unaudited)
ASSETS:
Investments in securities, at value--Note 1(a) $2,167,367,680
Cash ......................................... 21,465,183
Interest receivable .......................... 16,558,409
Prepaid expenses ............................. 427,532
--------------
2,205,818,804
LIABILITIES:
Due to The Dreyfus Corporation ............... $ 902,503
Accrued expenses ............................. 1,921,431 2,823,934
---------- --------------
NET ASSETS ...................................... $2,202,994,870
--------------
--------------
REPRESENTED BY:
Paid-in capital .............................. $2,202,313,887
Accumulated undistributed investment
income-net--Note 1(c) ...................... 662,754
Accumulated undistributed net realized
gain on investments ........................ 18,229
--------------
NET ASSETS at value applicable to 2,202,313,887
outstanding shares of Common Stock,
equivalent to $1.00 per share (25 billion
shares of $.001 par value authorized) ........ $2,202,994,870
--------------
--------------
Statement of Operations six months ended April 30, 1995 (Unaudited)
INVESTMENT INCOME:
Interest Income............................... $ 67,269,472
Expenses:
Management fee--Note 2(a) ................... $5,678,511
Shareholder servicing costs--Note 2(b)....... 3,823,715
Registration fees ........................... 96,032
Custodian fees .............................. 87,352
Professional fees ........................... 44,318
Directors' fees and expenses--Note 2(c) ..... 26,420
Prospectus and shareholders' reports ........ 16,943
Miscellaneous ............................... 177,899
----------
Total Expenses .............................. 9,951,190
--------------
INVESTMENT INCOME-NET ........................... 57,318,282
NET REALIZED GAIN ON INVESTMENTS--Note 1(b) ..... 11,869
--------------
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS $ 57,330,151
--------------
--------------
See independent accountants' review report and notes to financial statements.
<PAGE>
Dreyfus Worldwide Dollar Money Market Fund, Inc.
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Statement of Changes in Net Assets
Year Ended Six Months Ended
October 31, April 30, 1995
1994 (Unaudited)
-------------- ---------------
OPERATIONS:
Investment income--net ................... $ 88,781,938 $ 57,318,282
Net realized gain on investments.......... 6,360 11,869
-------------- --------------
Net Increase In Net Assets Resulting
From Operations ..................... 88,788,298 57,330,151
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DIVIDENDS TO SHAREHOLDERS FROM:
Investment income--net ................... (89,262,208) (56,655,528)
Net realized gain on investments ......... (11,727) --
-------------- --------------
Total Dividends ....................... (89,273,935) (56,655,528)
-------------- --------------
CAPITAL STOCK TRANSACTIONS ($1.00 per share):
Net proceeds from shares sold ............ 3,271,773,072 1,423,665,266
Dividends reinvested ..................... 85,485,478 54,263,285
Cost of shares redeemed .................. (4,325,481,716) (1,744,975,397)
-------------- --------------
(Decrease) In Net Assets From Capital
Stock Transactions .................. (968,223,166) (267,046,846)
-------------- --------------
Total (Decrease) In Net Assets .... (968,708,803) (266,372,223)
NET ASSETS:
Beginning of period ...................... 3,438,075,896 2,469,367,093
-------------- --------------
End of period (including undistributed
investment income--net; $662,754 in 1995) $2,469,367,093 $2,202,994,870
-------------- --------------
-------------- --------------
See independent accountants' review report and notes to financial statements.
<PAGE>
Dreyfus Worldwide Dollar Money Market Fund, Inc.
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Financial Highlights
Contained below is per share operating performance data for a share of Common
Stock outstanding, total investment return, ratios to average net assets and
other supplemental data for each period indicated. This information has been
derived from the Fund's financial statements.
<TABLE>
<CAPTION>
Year Ended October 31, Six Months Ended
------------------------------------------------------- April 30,1995
PER SHARE DATA: 1990 1991 1992 1993 1994 (Unaudited)
------- ------- ------- ------- ------- ----------------
<S> <C> <C> <C> <C> <C> <C>
Net asset value, beginning of period $1.0000 $1.0000 $1.0000 $1.0001 $1.0001 $1.0000
------- ------- ------- ------- ------- -------
Investment Operations:
Investment income--net.............. .0848 .0668 .0414 .0272 .0311 .0251
Net realized gain (loss) on
investments...................... -- -- -- (.0001) .0001 --
------- ------- ------- ------- ------- -------
Total from Investment
Operations........................ .0848 .0668 .0414 .0271 .0312 .0251
------- ------- ------- ------- ------- -------
Distributions:
Dividends from investment
income--net....................... (.0848 ) (.0668) (.0413) (.0271) (.0313) (.0248)
Dividends from net realized gain
on investments.................... -- -- -- -- -- --
------- ------- ------- ------- ------- -------
Total Distributions............... (.0848) (.0668) (.0413) (.0271) (.0313) (.0248)
------- ------- ------- ------- ------- -------
Net asset value, end of period...... $1.0000 $1.0000 $1.0001 $1.0001 $1.0000 $1.0003
------- ------- ------- ------- ------- -------
------- ------- ------- ------- ------- -------
TOTAL INVESTMENT RETURN................. 8.81% 6.88% 4.21% 2.75% 3.17% 5.06%*
RATIOS/SUPPLEMENTAL DATA:
Ratio of expenses to average
net assets ....................... .01% .23% .47% .77% .84% .88%*
Ratio of net investment income to
average net assets................ 8.44% 6.69% 4.21% 2.76% 3.07% 5.05%*
Decrease reflected in above
expense ratios due to
undertakings by the Manager....... .71% .43% .21% .02% -- --
Net Assets, end of period
(000's Omitted)................... $9,336,655 $8,610,297 $6,158,701 $3,438,076 $2,469,367 $2,202,995
- ---------------
* Annualized.
</TABLE>
See independent accountants' review report and notes to financial statements.
<PAGE> 999999
Dreyfus Worldwide Dollar Money Market Fund, Inc.
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NOTES TO FINANCIAL STATEMENTS (Unaudited)
NOTE 1--Significant Accounting Policies:
The Fund is registered under the Investment Company Act of 1940 ("Act") as a
diversified open-end management investment company. Premier Mutual Fund
Services, Inc. (the "Distributor") acts as the exclusive distributor of the
Fund's shares, which are sold to the public without a sales charge. The
Distributor, located at One Exchange Place, Boston, Massachusetts 02109, is a
wholly-owned subsidiary of FDI Distributions Services, Inc., a provider of
mutual fund administration services, which in turn is a wholly-owned subsidiary
of FDI Holdings, Inc., the parent company of which is Boston Institutional
Group, Inc. The Dreyfus Corporation ("Manager") serves as the Fund's
investment adviser. The Manager is a direct subsidiary of Mellon Bank, N.A.
It is the Fund's policy to maintain a continuous net asset value per share of
$1.00; the Fund has adopted certain investment, portfolio valuation and
dividend and distribution policies to enable it to do so. There is no
assurance, however, that the Fund will be able to maintain a stable net asset
value of $1.00.
(a) Portfolio valuation: Investments are valued at amortized cost, which has
been determined by the Fund's Board of Directors to represent the fair value of
the Fund's investments.
(b) Securities transactions and investment income: Securities transactions
are recorded on a trade date basis. Realized gain and loss from securities
transactions are recorded on the identified cost basis. Interest income is
recognized on the accrual basis. Cost of investments represents amortized
cost.
(c) Dividends to shareholders: It is the policy of the Fund to declare
dividends daily from investment income-net. Such dividends are paid monthly.
Dividends from net realized capital gain are normally declared and paid
annually, but the Fund may make distributions on a more frequent basis to
comply with the distribution requirements of the Internal Revenue Code. To the
extent that net realized capital gain can be offset by capital loss carryovers,
if any, it is the policy of the Fund not to distribute such gain.
On May 1, 1995, the Fund declared and paid a cash dividend of approximately
$.000453 per share (rounded) from undistributed investment income-net
(including investment income-net for Saturday, April 29, 1995 and Sunday, April
30, 1995).
(d) Federal income taxes: It is the policy of the Fund to continue to qualify
as a regulated investment company, if such qualification is in the best
interests of its shareholders, by complying with the applicable provisions of
the Internal Revenue Code, and to make distributions of taxable income
sufficient to relieve it from substantially all Federal income and excise
taxes.
At April 30, 1995, the cost of investments for Federal income tax purposes
was substantially the same as the cost for financial reporting purposes (see
the Statement of Investments).
NOTE 2--Management Fee and Other Transactions With Affiliates:
(a) Pursuant to a management agreement ("Agreement") with the Manager, the
management fee is computed at the annual rate of .50 of 1% of the average daily
value of the Fund's net assets and is
<PAGE>
Dreyfus Worldwide Dollar Money Market Fund, Inc.
- -------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)
payable monthly. The Agreement provides for an expense reimbursement from the
Manager should the Fund's aggregate expenses, exclusive of taxes, brokerage,
interest on borrowings and extraordinary expenses, exceed the expense
limitation of any state having jurisdiction over the Fund for any full fiscal
year. The most stringent state expense limitation applicable to the Fund
presently requires reimbursement of expenses in any full fiscal year that such
expenses (exclusive of certain expenses as described above) exceed 2-1/2% of the
first $30 million, 2% of the next $70 million and 1-1/2% of the excess over $100
million of the average value of the Fund's net assets in accordance with
California "blue sky" regulations. There was no expense reimbursement for the
six months ended April 30, 1995.
(b) Pursuant to the Fund's Shareholder Services Plan, the Fund reimburses
Dreyfus Service Corporation an amount not to exceed an annual rate of .25 of 1%
of the value of the Fund's average daily net assets for servicing shareholder
accounts. The services provided may include personal services relating to
shareholder accounts, such as answering shareholder inquiries regarding the
Fund and providing reports and other information, and services related to the
maintenance of shareholder accounts. During the six months ended April 30,
1995, the Fund was charged an aggregate of $1,473,370 pursuant to the
Shareholder Services Plan.
(c) Each director who is not an "affiliated person" as defined in the Act
receives from the Fund an annual fee of $4,500 and an attendance fee of $500
per meeting. The Chairman of the Board receives an additional 25% of such
compensation.
<PAGE>
Dreyfus Worldwide Dollar Money Market Fund, Inc.
- -------------------------------------------------------------------------------
Review Report of Ernst & Young LLP, Independent Accountants
Shareholders and Board of Directors
Dreyfus Worldwide Dollar Money Market Fund, Inc.
We have reviewed the accompanying statement of assets and liabilities of
Dreyfus Worldwide Dollar Money Market Fund, Inc., including the statement of
investments, as of April 30, 1995, and the related statements of operations and
changes in net assets and financial highlights for the six month period ended
April 30, 1995. These financial statements and financial highlights are the
responsibility of the Fund's management.
We conducted our review in accordance with standards established by the
American Institute of Certified Public Accountants. A review of interim
financial information consists principally of applying analytical procedures to
financial data, and making inquiries of persons responsible for financial and
accounting matters. It is substantially less in scope than an audit conducted
in accordance with generally accepted auditing standards, which will be
performed for the full year with the objective of expressing an opinion
regarding the financial statements and financial highlights taken as a whole.
Accordingly, we do not express such an opinion.
Based on our review, we are not aware of any material modifications that
should be made to the interim financial statements and financial highlights
referred to above for them to be in conformity with generally accepted
accounting principles.
We have previously audited, in accordance with generally accepted auditing
standards, the statement of changes in net assets for the year ended October
31, 1994 and financial highlights for each of the five years in the period
ended October 31, 1994 and in our report dated December 5, 1994, we expressed
an unqualified opinion on such statement of changes in net assets and financial
highlights.
Ernst & Young LLP
New York, New York
June 2, 1995
<PAGE>
[D-Logo]
Dreyfus Worldwide Dollar
Money Market Fund, Inc.
200 Park Avenue
New York, NY 10166
Manager
The Dreyfus Corporation
200 Park Avenue
New York, NY 10166
Custodian
The Bank of New York
90 Washington Street
New York, NY 10286
Transfer Agent &
Dividend Disbursing Agent
The Shareholder Services Group, Inc.
P.O. Box 9671
Providence, RI 02940
Further information is contained in the Prospectus,
which must precede or accompany this report.
Printed in U.S.A. DWWSA954
