Petrocurrency (or petrodollar) is a word used with three distinct meanings, often confused: Dollars paid to oil-producing nations (petrodollar recycling)—a term invented in the 1970s meaning trading surpluses of oil-producing nations. Currencies of oil-producing nations which tend to rise in value against other currencies when the price of oil rises (and fall when it falls).
Petrocurrency (or petrodollar) is a word used with three distinct meanings, often confused: Dollars paid to oil-producing nations (petrodollar recycling)—a term invented in the 1970s meaning trading surpluses of oil-producing nations. Currencies of oil-producing nations which tend to rise in value against other currencies when the price of oil rises (and fall when it falls).
Source: Wikipedia "Petrocurrency" · CC BY-SA 4.0
Share this article: X · Bluesky