Definition of petrodollar in English:

petrodollar

Line breaks: petro|dol¦lar
Pronunciation: /ˈpɛtrəʊˌdɒlə
 
/

noun

  • 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.

More definitions of petrodollar

Definition of petrodollar in:

Get more from Oxford Dictionaries

Subscribe to remove ads and access premium resources

Word of the day astrogation
Pronunciation: ˌastrəˈgāSHən
noun
(in science fiction) navigation in outer space