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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 ?
Deposit dollarization stood at 62.0% (-0.28ppts y/y and +0.14ppts m/m) and loan dollarization reached 56.2% (+1.13ppts y/y and +0.52ppts m/m).
Liquidity in manats is improved due to dollarization of liabilities throughout the banking system and government support.
Dollarization of the bank deposits decreased from 43.9% to 42.1%, dollarization of the credit portfolio decreased from 37.9% to 36.5%.
The economist also called for the dollarization or the formation of a currency board for lasting stability.
ISLAMABAD -- Islamabad Chamber of Small Traders (ICST) on Monday said PTI has reversed the trend of dollarization of the economy before taking control of the government which is highly laudable.
Dollarization and De-dollarization in Transitional Economies of Southeast Asia, edited by Koji Kubo.
This has decreased loan dollarization to a record low of 69.4 percent at end-October, thus approaching deposit dollarization which stands today at 67.3 percent, noting that the difference between the two has been contracting from 9.1 percent at end-2015 to 6.0 percent at end-2016 to 2.1 percent at end-October 2017," Audi said.
It is argued that the monetary system of fixed exchange rates, inflation targeting and capital account liberalisation has institutionalised the subordinate financialisation and dollarization of the region.
When a country uses the USD to stabilize their economy this is referred to as dollarization. This led to an economy that came to rely on the USD for stability against inflation and creating a more stable market.
Strong fiscal and external balance sheets balance the country's high commodity dependence, low government revenue base, financial dollarization and structural constrains in terms of income per capita, social indicators and institutional quality.
Dollarization was increasing; in 1998, it increased by 4ppt to 24.2 per cent in the private sector.
The rating actions reflect the negative impact of the depreciation of the Azerbaijani manat on the banks' asset quality, profitability and funding after the introduction in December 2015 of a free-floating exchange rate regime, as well as heightened dollarization of the banks' funding profiles.