Title: Dollarization: why so many countries use the US dollar - Wise, formerly TransferWise
Headings: Dollarization: why so many countries use the US dollar
Dollarization: why so many countries use the US dollar
Why is the US dollar accepted all over the world and what are the hottest holiday spots to get more bang for your buck?
Dollarization
So, where can the US dollar take you? Here are 5 great destinations.
1. Panama
2. Ecuador
3. Turks and Caicos
4. Cambodia
5. Zimbabwe
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Content: Although the official currency is the Cambodian riel, the USD is used congruently, and can be used in any transaction. After years of deprivation at the hands of the Khmer Rouge, the dollar helped to buoy the county's recovery. A bonus: you can use USD in neighboring Vietnam and Laos. 5. Zimbabwe
Take all your friends with you to Zimbabwe; the country, home of Victoria Falls, takes the Euro, the pound, the South African rand and the dollar. After a period of horrific hyperinflation and political turmoil, the government discontinued the Zimbabwean dollar in 2009 in favor of the dollar, a move that may have prevented complete economic collapse. But then, just as the USD beat out the pound, perhaps the dollar's time at the top of the money-pile is limited. Cuba, for instance, is finally doing away with its complicated dollar-linked dual currency.