dollarize

Definitions

1. To undergo dollarization; to start using the dollar as currency.
   intransitive
2. To convert to dollars.
   transitive

Equivalents

Examples

“To dollarize its economy, Argentina would need⟳ to exchange⟳ all pesos held by its people and businesses for US dollars, and assign a dollar value to all of its assets and contracts. […] Economists at Capital Economics wrote in an August note⟳ that dollarized countries El Salvador, Panama and Ecuador show⟳ “markedly lower inflation than elsewhere in the region.””

“That trust⟳ lies in right-wing libertarian President Javier Milei, who came to office last⟳ December on a promise⟳ of turning Argentina’s economy around by drastically reducing government payouts, slashing the size of the state, and dollarizing the economy.”

CEFR level