When a country abandons its national currency and adopts the currency of the United States, this is known as:

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When a country adopts the currency of the United States, it is known as dollarization. This means that the country no longer has its own national currency and instead uses the US dollar as its official currency. This is different from a floating exchange rate system, which involves the value of a national currency being determined by market forces. It is also different from a currency board, which is a monetary system that pegs the value of a national currency to another currency or a commodity.

When a Country Abandons Its National Currency and Adopts the Currency