Definition, Meaning & Synonyms

petrodolar

Noun

/ˌpɛtroʊˈdɒlər/

Definition

A type of currency that is earned through the sale of oil and petroleum products.

Examples

The petrodollar system has significant implications for global trade and finance.
Countries that export oil often receive payment in petrodollars, which affects their economies.

Meaning

The term refers to U.S. dollars that are traded internationally for oil. These dollars are often reinvested in various economic activities and financial markets.