should oil now be traded in yen or euros now that the dollar is weak?
Extra tags:
- balance of payment inr vs euro,oil being traded in Euros now,oil trade yen,should i trade dollar for euro now,what is the impact of euro on US dollar now?,WHY IS OIL TRADED DOLLARS,why should oil be traded in dollars
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Filed under: Currencies
In terms of currencies, it makes no difference. If somebody said lets trade oil in Euros, a Barrel of oil would cost 80/euros or whatever the equivalent in dollars would be…
The much larger issue boils down to how would a drop in demand for Dollars impact the US with the world no longer having to buy dollars to buy Oil? And how would the US be impacted with having to buy Euros to buy Oil?
EURO! More countries have the euro. It only makes sense!
no! Pounds haha! thats the way to do it, worth nearly twice as much as everything else :p
It makes no difference its all relative
I would imagine that it would make oil more expensive, because of the difference between currencies.
No way…that would hurt the economy in the US quite a bit. Not just because it would hurt the US but it could hurt other countries as well b/c many nations depend on the US. And the US economy will get worse b/c dollars would no longer in demand so they would lose value. Besides, the dollar isn’t guaranteed to stay bad forever- it can rise back up- and it would be bad to abandon a currency just because it went down over a few years.