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Commodity Block Currency |
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Commodity Block Currency A currency with foreign exchange price movements that strongly correlate to the movements of a single commodity. This happens when the economy of the country issuing such a currency is largely tied to one commodity, or a few similar commodities. For example, Canada has more oil in its ground than any other country except Saudi Arabia. As a result, the Canadian dollar appreciates when oil prices are high and depreciates when they are low. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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