Petrodollars

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Petrodollars

Deposits by countries that receive dollar revenues from the sale of petroleum to other countries; the term commonly refers to OPEC deposits of dollars in the Eurocurrency market.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Petrodollars

Revenue that state-owned and state-influenced oil companies derive from the sale of oil. In several Middle Eastern countries, petrodollars are the predominant source of government revenue. They are available for investment and are often traded on the eurocurrency market and/or are used for development purposes. For example, Bahrain used petrodollars in the 1970s and 1980s to finance improvements in its industrial capacity. See also: OPEC, Sovereign Wealth Fund.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

petrodollars

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
Similar to other petrocurrencies, the rouble becomes weaker during low oil pricing and vice versa.
A rated petrocurrencies were my anti dollar hedges in 2012.
Fed policy, Europe's economic disaster, Crimea, Greece, Ukraine, post-Dodd-Frank/Volcker Rule liquidity shocks in debt markets, flight capital from a Middle East, China, West Africa and Russia in geopolitical stress, central bank panic diversification out of euros, yen, petrocurrencies like the Canadian dollar and South African rand.
This is the reason I expect the Euro to appreciate to 1.35 if Mitt Romney wins the White House as his election would trigger a rally in risk assets, a fall in the dollar, (and if coupled with Chinese rate cuts), a rise in crude oil/base metals and petrocurrencies such as the Norwegian kroner, Mexican peso and Russian rouble (but not the Iran rial!).