A notional unit of currency earned by a country from the export of petroleum: petrodollars were pouring into the kingdom
More example sentences
- As well as pushing up the value of the currency directly, a flood of petrodollars may also undermine manufacturing competitiveness by stoking inflation.
- With oil prices hovering above $50 a barrel, Russia, the world's second-largest producer of crude after Saudi Arabia, is raking in petrodollars.
- Nevertheless, in a Nov. 22 report Fitch noted that Mexico has used its oil bounty less productively than Russia, which is running a fiscal surplus even as it spends many of its petrodollars to pay down the country's debt.
Definition of petrodollar in:
- The British & World English dictionary