dollarization

dollarization dol‧lar‧i‧za‧tion [ˌdɒləraɪˈzeɪʆn ǁ ˌdɑːlərə-] also dollarisation noun [uncountable] ECONOMICS
1. when 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.

2. FINANCE when 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 adjective :

• As a dollarised economy, the Argentinian peso has the same value as the US dollar.

* * *

   Adoption of the US dollar as the main currency across large parts of the economy. It can occur informally and without official approval, when citizens vote with their pockets, or formally when a country stops issuing its own currency and uses only foreign currency.

* * *

dollarization UK US /ˌdɒləraɪˈzeɪʃən/ US  /ˌdɒlərɪˈzeɪʃən/ noun [U] (UK also dollarisation) ECONOMICS
the situation in which a country chooses to use the US dollar instead of, or in addition to, its own currency: »

The finance minister argued that dollarization would boost economic growth.

the situation in which a country decides to make its own currency the same value as the US dollar or to link it to changes in the value of the US dollar
dollarize verb [I or T] (UK also dollarise)
»

Critics pointed out that dollarizing the economy could reduce the country's control over its economy.


Financial and business terms. 2012.

Look at other dictionaries:

  • dollarization — (Amer.) n. use of U.S. dollars by a country as its official currency (also dollarisation) …   English contemporary dictionary

  • Dollarization — Worldwide use of the U.S. dollar and the euro:   United States …   Wikipedia

  • Dollarization — A situation where the citizens of a country officially or unofficially use a foreign country s currency as legal tender for conducting transactions. The main reason for dollarization is because of greater stability in the value of the foreign… …   Investment dictionary

  • dollarization — The adoption by a country of the US dollar in place of its own currency, usually as a means of controlling inflation and interest rate volatility. Partial dollarization is said to occur when a country gives the US dollar equal status to its own… …   Accounting dictionary

  • dollarization — The adoption by a country of the US dollar in place of its own currency, usually as a means of controlling inflation and interest rate volatility. Partial dollarization is said to occur when a country gives the US dollar equal status to its own… …   Big dictionary of business and management

  • dollarization — noun Date: 1982 the adoption of the United States dollar as a country s official national currency • dollarize verb …   New Collegiate Dictionary

  • dollarization — /dol euhr euh zay sheuhn/, n. the conversion of a country s currency system into U.S. dollars. [1985 90] * * * …   Universalium

  • dollarization — noun The process of a country adopting the US dollar or other foreign currency in parallel to or instead of the domestic currency. Making dollarisation work requires structural reform, something President Noboa has failed to achieve. Ecuadors… …   Wiktionary

  • dollarization — dol|lar|i|za|tion [ˌdɔləraıˈzeıʃən US rə ] n [U] technical a situation in which countries outside the US want to use the dollar rather than their own country s money …   Dictionary of contemporary English

  • dollarization — or dollarisation noun 1》 the process of aligning a country s currency with the US dollar. 2》 the dominating effect of the US on a country s economy …   English new terms dictionary

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