1. the process or policy of adopting the U.S. dollar as the official currency of a country or region
Usage: also spelled 'dollarization' in U.S. English; economics and finance term
2. the increasing use or dominance of the U.S. dollar in international trade, investment, and financial transactions
Usage: economics term

Examples

• Ecuador's dollarisation in 2000 replaced the sucre with the U.S. dollar as legal tender.
• The dollarisation of the global economy has made the dollar the world's primary reserve currency.
• Some economists argue that dollarisation can reduce inflation in developing countries.
• Panama adopted dollarisation decades ago and continues to use the dollar alongside the balboa.
• Critics worry that dollarisation limits a country's monetary policy independence.
• The trend toward dollarisation reflects the dollar's strength in international markets.