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The replacement of a country's system of currency with US dollars.

dol′lar·ize (-ə-rīz′) v.


(ˌdɒləraɪˈzeɪʃən) or


(Currencies) the process of converting a country's currency to US dollars


(ˌdɒl ər əˈzeɪ ʃən)
the conversion of a country's currency system into U.S. dollars.
References in periodicals archive ?
The Finance Minister reiterated that the dollarization of the economy will not be allowed and SBP, in its role of regulator, will take all necessary measures to curb such activities.
Suresh Jain, CFO, Essar Oil said, Financials for the quarter were impacted on account of decline in cracks of key products and weakness in oil prices which is partly offset by operational efficiency and reduction in interest and financial charges due to part dollarization of our debt.
The use of parallel currencies creates a system that is not dollarization since electronic money is a distinct currency that can multiply or be issued without having enough fluid backing in the Central Bank (NotiSur, Sept.
6 percent, slightly driving up the deposit dollarization ratio from 63.
The study makes recommendations on areas such as boosting medium and long-term growth prospects, reduction of debt levels, dollarization as an alternative framework for monetary policy, and evaluation of compliance with international best practices in bank supervision.
This phenomenon, which is also referred to as credit dollarization or credit euroization, (2) however, exposes the financial system to a number of additional risk factors (Bordo et al.
This issue is not new; in the last decade a few Latin American countries, the most dollarized region in the world, began introducing measures to create incentives to internalize the risks of dollarization, the development of capital markets in local currencies, and de-dollarization of deposits, which all contribute to a decline in credit dollarization globally, but predominantly in Latin America and the BRIC (Brazil, Russia, India and China) countries.
The Central Bank is still financing the public debt but this procedure can't continue forever and for this reason we must find a solution so that the dollarization ratio drops and this would secure liquidity in the market.
It shows how dollarization has allowed Zimbabwe to quash hyperinflation, restore stability, increase budgetary discipline, and reestablish monetary credibility.
A nearly 1,000 basis point increase in administratively set interest rates throughout the year helped take some heat off of the recent resurgence of dollarization in the economy.
I don't understand why the government is allowing dollarization of the economy," wonders, Lual Deng Kuol, a student of economics and social studies, noting that excessive use of the dollar was exerting unnecessary pressure on the local currency.