petrodollars investment & finance definition
An
informal term that refers to U.S. dollars that are received by oil-producing
countries in payment for oil exports and are deposited in U.S. or European
banks.
See petrodollars in Wall Street Words
The funds that are controlled by oil-exporting countries and have been used to pay for oil imports. Petrodollars are a huge pool of funds available for investment and the purchase of goods and services. Although stated in terms of dollars, the term generally refers to all currencies.
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