dollarization

[ dol-er-uh-zey-shuhn ]

noun

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

dollarization

/ ˌdɒləraɪˈzeɪʃən /

noun

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

Word History and Origins

Origin of dollarization¹

First recorded in 1985–90

Example Sentences

Hanke and others have speculated that the Bitcoin move is a first step towards scrapping dollarization altogether and issuing a national digital currency.

From Time