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dollarization
Word family
From Longman Business Dictionary
dollarizationdol·lar·i·za·tion /ˌdɒləraɪˈzeɪʃənˌdɑːlərə-/ (also dollarisation British EnglishBrE) noun [uncountableU]ECONOMICS
1when people in countries outside the US prefer to use the dollar, rather than their country’s own currency
High inflation has led many Russians to hold US dollars rather than roubles. This dollarisation is only now starting to reverse.
2FINANCEwhen a country makes its currency the same value as the dollar, or keeps its currency at the same rate in relation to the dollar
—dollarized (also dollarised British EnglishBrE) adjectiveadj
As a dollarised economy, the Argentinian peso has the same value as the US dollar.
dol·lar·i·za·tion noun
Chinese
Syllable
Corpus
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