dollarization Syllabification: (dol·lar·i·za·tion)Pronunciation: /ˌdäləriˈzāSHən/ (also dollarisation)Definition of dollarization noun the process of aligning a country’s currency with the US dollar. the dominating effect of the US on the economy of a country. dollarization in other Oxford dictionaries Definition of dollarization in the British & World English dictionary