All oil purchases from OPEC must be paid in U.S. dollars. If Mexico wants to buy oil, it has to sell its local currency and buy U.S. dollars, then use those dollars to buy oil from OPEC.
Any country that buys oil from OPEC must do so using petrodollars.
Petrodollars are also known as petrocurrency.
Learn How to Trade Forex. BabyPips.com Is The Beginner's Guide to Forex Trading. Your Best Source for Forex Education on the Web.
Focusing back on the comdolls today with some simple forex setups on AUD/CAD, AUD/NZD, and NZD/USD! Check it out! ...