petrocurrencyn.
/ˈpɛtrə(ʊ)ˌkʌrənsi/, /ˈpɛtrəʊˌkʌrn̩si/, U.S. /ˈpɛtroʊˌkərənsi/ The currency of a petroleum-exporting country, whose exchange rate varies chiefly with the fluctuations of the petroleum market.
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society > trade and finance > money > medium of exchange or currency > [noun] > types of currency
soft currency1837
fiat-money1880
token coinage1881
token-money1889
token currency1893
monopoly money1895
hard currency1940
soft currency1940
reserve currency1950
petrocurrency1974
cryptocurrency1991
commodity dollar1998
1974 Time (U.S. ed.) 17 June 83 (heading) The petrocurrency peril.
1975 Economist 8 Mar. 86/3 Some members [of OPEC]..want their own petro-currencies put into the basket of IMF special drawing rights.
1986 Tablet 19 Apr. 405/1 As a petrocurrency of a country with a Conservative government, it [sc. sterling] was probably bound to strengthen when oil prices soared.
1990 R. Critchfield Among British ii. 139 All these young men in pink jackets..got it into their little noddles that the pound is a petrocurrency.
This entry has been updated (OED Third Edition, December 2005; most recently modified version published online March 2022).
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n.1974