dollarize

Verb

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.
   • 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...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
   • 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.2024 March 29, Max Klaver, “Argentina inflation stings as people brace for president’s radical change”, in The Christian Science Monitor
2. (transitive) To convert to dollars.