demonetization Definition
the act of stripping a currency unit of its status as legal tender.
Using demonetization: Examples
Take a moment to familiarize yourself with how "demonetization" can be used in various situations through the following examples!
Example
The demonetization of the Indian rupee in 2016 caused widespread chaos.
Example
The government's demonetization policy aimed to curb corruption and black money.
Example
Demonetization can lead to a cash crunch and economic slowdown.
demonetization Synonyms and Antonyms
Synonyms for demonetization
Summary: demonetization in Brief
'Demonetization' [dee-mawn-i-tuh-zey-shuhn] is the act of removing the legal tender status of a currency unit. It is often implemented by governments to combat issues such as corruption and black money, but can lead to economic consequences like cash shortages and slowdowns. Examples include the Indian rupee demonetization in 2016.
