dollarization

noun
dol·​lar·​i·​za·​tion | \ ˌdä-lə-rə-ˈzā-shən How to pronounce dollarization (audio) \

Definition of dollarization

: the adoption of the U.S. dollar as a country's official national currency

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Other Words from dollarization

dollarize \ ˈdä-​lə-​ˌrīz How to pronounce dollarization (audio) \ verb

Examples of dollarization in a Sentence

Recent Examples on the Web Why did El Salvador go through the process of dollarization then? Roger Huang, Forbes, 27 June 2021 Thanks to dollarization and low inflation, 25-year variable mortgages are available at 7%. Steve H. Hanke And Manuel Hinds, WSJ, 22 June 2021 But, Bank of America warns investors to tread carefully, arguing that the rise of digital currencies could also undermine a country’s physical currency through dollarization and inflation. Sophie Mellor, Fortune, 14 June 2021 But dollarization has made El Salvador more vulnerable to external shocks, like the Covid-19 pandemic, which led to an economic contraction of about 9% last year. Santiago Pérez, WSJ, 9 June 2021 De-dollarization – Perhaps most pointedly is the fact that monetary and fiscal policy steps occurring the United States do not occur in a vacuum. Sean Stein Smith, Forbes, 8 June 2021 Since de-dollarization, monetary chaos has reigned. Craig Richardson, National Review, 10 Dec. 2020 On Monday, Bloomberg broke the news that Venezuela’s president Maduro is inching toward official dollarization. Andrew Stuttaford, National Review, 21 Nov. 2020 While Venezuela’s socialist government used to demonize the U.S. currency, President Nicolas Maduro publicly endorsed dollarization last year as a means to tame hyperinflation and help stabilize a crumbling economy. Nicolle Yapur, Bloomberg.com, 16 Nov. 2020

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'dollarization.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of dollarization

1982, in the meaning defined above

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Time Traveler for dollarization

Time Traveler

The first known use of dollarization was in 1982

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Statistics for dollarization

Last Updated

14 Jul 2021

Cite this Entry

“Dollarization.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/dollarization. Accessed 24 Jul. 2021.

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