Dollarization

Quick meaning: Dollarization is a noun meaning (economics) 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.

Meaning

(economics) 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.

Example Sentences

But dollarization is not a panacea for Argentina’s crisis-stricken economy, analysts say.

“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.”

Making dollarisation work requires structural reform, something President Noboa has failed to achieve. Ecuador's businesses are struggling against high costs. The public finances face a shortfall. A new agreement with the IMF has proved elusive. Neither candidate says he would scrap the dollar, but neither says much about reform.

Word Forms

• dollarisation

Antonyms for dollarization

Common opposites include dedollarization.

Related Words

Related dictionary entries include devaluation, monetarization, dollar store, valuta, monetization, revalorization.

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