From The Free Forex Encyclopedia

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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.

"The secret to creativity is knowing how to hide your sources."
Albert Einstein
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