Comment by tossandthrow
10 months ago
This is called the euro dollar (look it up, it had nothing to do with Europe).
In short: when two non us countries trade, eg., oil they settle on USD.
So for south Africa to buy oil from Kuwait, they need USD.
10 months ago
This is called the euro dollar (look it up, it had nothing to do with Europe).
In short: when two non us countries trade, eg., oil they settle on USD.
So for south Africa to buy oil from Kuwait, they need USD.
Eurodollar is cyberpunk. Don't you mean the petro dollar?(nevermind found Eurodollar instead of "euro dollar" now :) )
I don't mean petro dollar.
And you are more than welcome to use the internet if there are terms you don't understand: https://en.wikipedia.org/wiki/Eurodollar (Edit: I see you found d the article, will leave the link for other who are in doubt :) )
They are different concepts.