dollarize

verb

Etymology: Etymology tree Proto-Germanic *dalą Proto-West Germanic *dal Old High German tal Middle High German tal German Tal German Talerder. Middle Low German dālerbor. Dutch dalerbor. English dollar Proto-Indo-European *-id- Proto-Indo-European *-yéti Proto-Indo-European *-idyéti Proto-Hellenic *-íďďō Ancient Greek -ῐ́ζω (-ĭ́zō)bor. Late Latin -izōder. Middle French -iserbor. Middle English -isen English -ize English dollarize From dollar + -ize.

1. To undergo dollarization; to start using the dollar as currency.

   “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.”

2. To convert to dollars.