The term Petrodollar refers to the U.S. dollars earned by countries through the sale of oil.

This concept originated in the 1970s when oil-exporting nations, primarily members of the Organization of the Petroleum Exporting Countries (OPEC), began to price and sell their oil exclusively in U.S. dollars.

The widespread use of the dollar in international oil transactions reinforced the currency’s dominance in the global economy.

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