Why are OPEC still trading in dollars instead of Euros?

0 ⤊

Why are OPEC still trading in dollars instead of Euros?

2007-08-10 03:11:24 · 3 answers · asked by Harry P 1 in Business & Finance ➔ Other - Business & Finance

3 answers

They started using dollars before there were Euros and have never changed, it is still the biggest international currency. It has historically been the most stable, just not lately.

2007-08-10 03:14:03 · answer #1 · answered by Steve C 7 · 0⤊ 0⤋

The dollar has been around alot longer than the Euro even though OPEC's headquarters are in Vienna. OPEC stand for Organization of the Petroleum Exporting Countries so some do not trade using the EURO whereas all the world trades using the dollar. Hope this helps

2007-08-13 10:05:28 · answer #2 · answered by Soup Dragon 6 · 0⤊ 0⤋

Would you trust the Euro (given that France is trying to take over political control of the ECB) ?

2007-08-13 08:50:16 · answer #3 · answered by Steve B 7 · 0⤊ 0⤋