What does petrodollar mean?
Definitions for petrodollar
petrodol·lar
This dictionary definitions page includes all the possible meanings, example usage and translations of the word petrodollar.
Wiktionary
petrodollarnoun
Money earned from the sale of oil.
Wikidata
Petrodollar
A petrodollar is a United States dollar earned by a country through the sale of its petroleum to another country. The term was coined in 1973 by Georgetown University economics professor, Ibrahim Oweiss, who recognized the need for a term that could describe the dollar received by petroleum exporting countries in exchange for oil. The term petrodollar should not be confused with petrocurrency which refers to the actual national currency of each petroleum exporting country. In addition to the United States petrodollar, a petrodollar can also refer to the Canadian dollar in transactions that involve the sale of Canadian oil to other nations. Large inflow of petrodollar in a country often has an impact on the value of its currency. For Canada it was shown that an increase of 10% in the price of oil increases the Canadian dollar value versus the US dollar by 3% and vice versa.
Numerology
Chaldean Numerology
The numerical value of petrodollar in Chaldean Numerology is: 1
Pythagorean Numerology
The numerical value of petrodollar in Pythagorean Numerology is: 1
Examples of petrodollar in a Sentence
If the global economic expansion continues, as we expect, then rising investment demand will eventually expose the market consequences of ebbing petrodollar saving flows.
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"petrodollar." Definitions.net. STANDS4 LLC, 2024. Web. 28 Mar. 2024. <https://www.definitions.net/definition/petrodollar>.
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