dollarization

English

English Wikipedia has an article on:

International use of the U.S. dollar § Dollarization and fixed exchange rates

From dollarize +‎ -ation.

dollarization (uncountable)

(economics) The process of a country, officially, or its residents, unofficially, adopting the US dollar or other foreign currency in parallel to or instead of the domestic currency.
- 1999 January 2, Joseph Kahn, quoting Alan Greenspan, “Era May End For Floating Currencies”, in The New York Times‎^[1], →ISSN:
  “Many emerging-market economies have tried a number of technical devices: the fixed rate peg, varieties of crawling peg, currency boards and even dollarization,” Mr. Greenspan said in a recent speech. “The success has been mixed. Where successful, they have been backed by sound policies.”
- 2002 October 26, “New faces of Andean politics”, in The Economist, U.S. edition:
  Making dollarisation work requires structural reform, something President Noboa has failed to achieve. Ecuador's businesses are struggling against high costs. The public finances face a shortfall. A new agreement with the IMF has proved elusive. Neither candidate says he would scrap the dollar, but neither says much about reform.

the process of a country adopting the US dollar as its primary currency