What are Petrodollars?

Petrodollars are US dollars that are used for the payment of oil.
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Petrodollars are US dollars that are used for the payment of oil.

Oil prices are priced in US dollars, as the dollar is a global currency.

Because oil exporting countries are dependent on oil imports, it means their national income is affected by the price of the US dollar.

If the value of the dollar drops, then so will their national income.

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