dollarize

• dollarise

From dollar +‎ -ize.

dollarize (third-person singular simple present dollarizes, present participle dollarizing, simple past and past participle dollarized)

1. (intransitive) To undergo dollarization; to start using the dollar as currency.
   • 2023 October 23, Anna Cooban, “Javier Milei wants Argentina to swap the peso for the US dollar. Here’s what that could mean”, in CNN Business‎^[1]:

     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.”

   • 2024 March 29, Max Klaver, “Argentina inflation stings as people brace for president’s radical change”, in The Christian Science Monitor:

     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.

2. (transitive) To convert to dollars.

• dollarization