Definition

Money that is earned from selling oil, often used in international trade.

Example

Many countries rely on petrodollars to support their economies.

Conversation

Have you heard about the impact of the petrodollar on global economies?

Yeah, it's fascinating how oil prices can affect currencies around the world.

Exactly! Countries that rely on oil exports really benefit from the petrodollar system.

True, but it can also make them vulnerable to price fluctuations.

Synonyms & Antonyms

Root Explanation

Petrodollar → It is formed from "petro-" (from Greek "petra", meaning rock or stone, but in this context referring to petroleum or oil) and "dollar" (from the German "thaler", a type of coin). The term "petrodollar" refers to U.S. dollars earned by countries through the sale of oil, linking the commodity of oil with the currency of the dollar.

Memory Tip

Think of 'petro-' relating to oil and 'dollar' as the currency, which helps you remember that a petrodollar is money earned from selling oil.

Visually Confused Words