(redirected from Petro-Currency)
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Money in any number of currencies that is paid to oil-producing countries, which then deposit it into Western banks.


(ˈpɛ troʊˌdɒl ərz)
revenues in dollars accumulated by petroleum-exporting countries, esp. of the Middle East.


[ˈpɛtrəʊdɒlərz] nplpétrodollars mpl
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Perhaps a more useful European comparison is with Britain -- also a petro-currency economy -- where non-oil industry accounts for about 25 per cent of GDP and oil and gas about five per cent.
Moreover, the petro-currency experience of the UK, with oil rich exchange rates crowding-out and eroding the competitiveness of the non-oil industry, is a worrying precedent for GCC members intent on growing their non-oil industries to take over when the oil runs out.
He was the 4th highest friend of the largest Arab petro-currency bond funding global institution.