dollarize


Also found in: Wikipedia.

dol·lar·i·za·tion

 (dŏl′ər-ĭ-zā′shən)
n.
The replacement of a country's system of currency with US dollars.

dol′lar·ize (-ə-rīz′) v.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

dollarize

(ˈdɒləraɪz) or

dollarise

vb (tr)
(Economics) economics to replace a country's currency with the US dollar
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
References in periodicals archive ?
(2006: 2074) associate dollarization of countries with "underdevelopment of financial systems", which causes inflation and faces countries to dollarize. In this study, I have taken those countries where official or full dollarization took place (i.e.
Indeed, they unofficially have begun to dollarize the economy.
dollar during elections: "Argentines become uncertain during election periods: We basically decide to dollarize."
Tartous, SANA -- Economy and Foreign Trade Minister Humam al-Jazaeri said that increasing industrial and agricultural production is the most important factor in terms of regulating exchange rates, stressing that there's no alternative to dealing in the Syrian Pound and that there are absolutely no plans to dollarize the Syrian economy.
Then, just as marketers were trying to dollarize these efforts, shiny, fast, and trackable digital social networking platforms emerged and appeared to provide the solution.
"When you build strong relationships and dollarize your value proposition, you build long-term trust with your clients."
And remember, marketing is a tough investment because it's hard to dollarize the direct benefits, but this is an all-too-important differentiator in the new manufacturing arena.
(Further, El Salvador is currently one of four investment-graded countries in Latin America, a status that demonstrates the confidence of international investors.) The government decided to dollarize in an attempt to lower interest rates, increase foreign investment, improve financial conditions, and decrease transaction costs in international trade, thereby further accelerating economic growth and stability (see Towers and Borzutzky 2004).
Westin said: "If the money is not kept in the stabilization fund, then the economy would dollarize further.