[pe-troh-dol-erz] 
| surplus revenues in dollars accumulated by petroleum-exporting countries, as those of the Middle East, esp. when then used for foreign loans or investments. |
| pet·ro·dol·lars (pět'rō-dŏl'ərz) pl.n. Money in any number of currencies that is paid to oil-producing countries, which then deposit it into Western banks. |
Petrodollars
The money that oil exporters receive from selling oil and then deposit into Western banks. Petrodollars are also known as petrocurrency.
Investopedia Commentary
Petrodollars refers to the money that Middle Eastern countries and members of OPEC receive as revenue from Western nations and then put back into those same nations' banks. For example if Libya were to receive money from the U.S. for oil and then put the money into a U.S. bank, that deposited money is referred to as petrodollars.
Related Links
Understanding The Current Account In The Balance Of Payments
What Is The World Trade Organization?
See also: Cartel, Commodity, OPEC, Sour Crude, Sweet Crude
Also spelled: petro dollar, petrodollar, petro currenies
petrodollars
troʊˌdɒl