dollarizes
/ˈdɑlərˌaɪzɪz/
verb
- Adopts the US dollar as the official currency of a country, replacing or alongside its own currency.
- Some economists argue that a country that dollarizes loses control over its monetary policy.
- When a government dollarizes, it must hold large reserves of US dollars.
- The small nation dollarizes its economy to stabilize inflation.
Synonyms