English version

dollarization

From Longman Dictionary of Contemporary Englishdollarizationdol‧lar‧i‧za‧tion /ˌdɒləraɪˈzeɪʃən $ -rə-/ noun [uncountable] technical  a situation in which countries outside the US want to use the dollar rather than their own country’s money
Examples from the Corpus
dollarizationThe government has taken steps to halt further dollarization of the Russian economy.Schuler4 suggests that dollarization is appropriate when a country's central bank has performed poorly.
From Longman Business Dictionarydollarizationdol‧lar‧i‧za‧tion /ˌdɒləraɪˈzeɪʃənˌdɑːlərə-/ (also dollarisation British English) noun [uncountable]ECONOMICS1when people in countries outside the US prefer to use the dollar, rather than their country’s own currencyHigh 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 dollardollarized (also dollarised British English) adjectiveAs a dollarised economy, the Argentinian peso has the same value as the US dollar.
Pictures of the day
Do you know what each of these is called?
Click on the pictures to check.