Money paid to oil-producing countries, especially those in the Middle East, and deposited in Western banks.
Related information about petrodollars:
- Petrodollars Definition | Investopedia
The money that oil exporters receive from selling oil and then deposit into Western banks. Petrodollars are also known as petrocurrency.
- Recycling Petrodollars - Federal Reserve Bank of New York
In recent years, oil-exporting countries have experienced windfall gains with the rise in the price of oil. A look at how oil exporters “recycle” their revenues ...
- Chavez petrodollars fuel voter worship - The Washington Post
Oct 12, 2012 ... Oil is abundant in Venezuela, and the president has showered the wealth it creates on the poor.
- The Demise of the Petrodollar - Casey Research
Jan 24, 2012 ... If petrodollars go out of vogue and trading in other currencies gets too complicated, they will tap their gold storehouses to keep the crude ...
- Petrodollar pumping US policy on Iran, backfire looms — RT
Feb 1, 2012 ... If Iran cannot sell their oil to Europe, there are plenty of customers waiting in the wings, and if they come bearing not petrodollars, but gold and ...
- petrodollars - definition of petrodollars by the Free Online Dictionary ...
pet·ro·dol·lars (p t r -d l rz). pl.n. Money in any number of currencies that is paid to oil-producing countries, which then deposit it into Western banks.
- Definition of Petrodollars
Definition of Petrodollars. Petrodollars may be defined as the U.S. dollar earned front the sale of oil, or they may be simply defined as oil revenues denominated ...
- Petrodollar recycling - Wikipedia, the free encyclopedia
During the late 1970s and early 1980s, states such as Saudi Arabia, Kuwait and Qatar amassed large surpluses of petrodollars which they could not invest in ...