What is another word for dollarization?

Pronunciation: [dˌɒləɹa͡ɪzˈe͡ɪʃən] (IPA)

Dollarization, the use of US dollars as a currency in a country, has become a popular trend in the global market. However, there are other terms used to describe this phenomenon. One synonymous phrase is currency substitution, which refers to the replacement of domestic currency with foreign currencies. Another term is monetary substitution, which emphasizes the monetary aspect of the process. The concept of full dollarization is also used, which means the complete replacement of the domestic currency with the US dollar. Regardless of the term used, dollarization has both advantages and disadvantages, and countries implementing this policy should carefully consider the consequences.

What are the hypernyms for Dollarization?

A hypernym is a word with a broad meaning that encompasses more specific words called hyponyms.
  • Other hypernyms:

    currency union, economic integration, monetary union, currency integration.

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