Petro
. For the family of loa in Haitian Vodou see Petwo
Petro is a supranational currency proposed by Venezuelan President Hugo Chavez at the Second South America-Arab League Summit in Qatar, in order to face the instability that the generation of fiat currency has caused in the world economy.[1]
The petro-currency would be backed by the huge oil reserves of the oil producing countries. [2]
The petro would replace the US dollar as the international reserve currency.