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InterviewSolution
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How U.s Dollar Contribute To The Rising Oil Prices? |
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Answer» On the WORLD market, oil is priced in U.S dollars. So, when dollar becomes weaker, foreign currency becomes stronger, which means foreign countries can buy more oil at same amount of MONEY. As people in other countries start buying more, demand RISES, and it drives up the PRICE in dollars, which again influence the price of oil in the global market. On the world market, oil is priced in U.S dollars. So, when dollar becomes weaker, foreign currency becomes stronger, which means foreign countries can buy more oil at same amount of money. As people in other countries start buying more, demand rises, and it drives up the price in dollars, which again influence the price of oil in the global market. |
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