Definition of Demonetize
Demonetize
de·mon·e·tize
Definition/Meaning
(verb)
to stop using particular coins or notes as money;
e.g. The government plans to demonetize the highest denomination of banknotes by the end of the year.
(verb)
to deprive a precious metal of its use or status as a monetary standard;
e.g. They decided to demonetize the metal when its value reduced sharply.
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