word
Dollarization
dol-er-ih-ZAY-shun
/ˌdɒlərɪˈzeɪʃən/Listen
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Syllable breakdown
dollarization
Dictionary meaning
Adoption of the US dollar (or another foreign currency) as official or de facto currency — Ecuador, Panama, and El Salvador use the dollar; protects against inflation but eliminates monetary policy tools; also describes informal preference for dollars in unstable economies
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