dollarization

American  

[dol-er-uh-zey-shuhn] / ˌdɒl ər əˈzeɪ ʃən /

noun

1. the conversion of a country's currency system into U.S. dollars.

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dollarization British  

/ ˌdɒləraɪˈzeɪʃən /

noun

1. the process of converting a country's currency to US dollars

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Etymology

Origin of dollarization

First recorded in 1985–90

Example Sentences

But he’s ruled out dollarization and instead runs an opaque and discretionary monetary regime.

From The Wall Street Journal

As we’ve written, the best option for long-run stability and investor confidence is dollarization.

From The Wall Street Journal

Javier Milei needs U.S. help, but his country really needs dollarization.

From The Wall Street Journal

That won’t happen with the peso, which is why dollarization is the correct and now essential policy alternative.

From The Wall Street Journal

Mr. Milei’s opposition to dollarization is hard to understand since he campaigned on eliminating the central bank.

From The Wall Street Journal