May 5, 2021
Estimated reading time: < 1 min
Comdolls is a nickname for the term “commodity dollar”.
Currencies like the Australian, Canadian, and New Zealand dollars are known as “comdolls” because their respective economies are highly dependent on exporting commodities.
Commodities are used as materials in the production of goods or services.
Australia is the second-largest gold producer in the world, behind only China, while Canada is the fourth largest of the world’s oil producers. New Zealand exports a lot of dairy and meat.
Importers often need to get their hands on comdolls if they want to buy these commodities. This is why the comdolls’ price action is usually correlated with commodity prices.
If this article seems useful to your then please click the like button below. You can also share your valuable feedback or ask questions in the below comment section. Also, subscribe to our newsletter for trading-related updates.
Views: 19
