Petrocurrency

Petrocurrency is the national currency of an oil-exporting country whose economy is heavily reliant on petroleum sales, where the currency's value and stability are directly and significantly influenced by global oil prices and production quotas. These currencies, such as the Canadian Dollar (CAD), Norwegian Krone (NOK), and Russian Ruble (RUB), are considered commodity currencies due to the high correlation between their exchange rates and the price of crude oil.