Dollarization

//dɑləɹɪˈzeɪ̯ʃɪn// noun

noun ·Rare ·Advanced level

Definitions

Noun
  1. 1
    The process of a country, officially, or its residents, unofficially, adopting the US dollar or other foreign currency in parallel to or instead of the domestic currency. uncountable

    "“Many emerging-market economies have tried a number of technical devices: the fixed rate peg, varieties of crawling peg, currency boards and even dollarization,” Mr. Greenspan said in a recent speech. “The success has been mixed. Where successful, they have been backed by sound policies.”"

Synonyms

All synonyms
currency substitutionelminting

Example

More examples

"Cuba wants to slow down the dollarization of its currency."

Etymology

From dollarize + -ation.

Related phrases

sound as dollar

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Data sourced from Wiktionary, WordNet, CMU, and other open linguistic databases. Updated March 2026.