demonetize Definition
- 1to stop using a particular form of currency as legal tender
- 2to deprive a currency of its value
Using demonetize: Examples
Take a moment to familiarize yourself with how "demonetize" can be used in various situations through the following examples!
Example
The government decided to demonetize the old banknotes.
Example
The sudden demonetization of the currency caused chaos in the market.
Example
The decision to demonetize the coins was met with mixed reactions from the public.
demonetize Synonyms and Antonyms
Synonyms for demonetize
Phrases with demonetize
a government policy that aims to replace or withdraw a particular form of currency from circulation
Example
The demonetization policy of the government led to a cash crunch in the economy.
the process of replacing physical currency with digital transactions
Example
The pandemic has accelerated the trend of digital demonetization, with more people opting for online payments.
the process of withdrawing certain denominations of a currency from circulation while keeping others valid
Example
The government announced partial demonetization of the high-value banknotes to curb black money.
Summary: demonetize in Brief
The verb 'demonetize' [dee-mon-i-tahyz] means to stop using a particular form of currency as legal tender or to deprive a currency of its value. It is often used in the context of government policies and financial markets, such as 'The government decided to demonetize the old banknotes.' 'Demonetize' can also be used in phrases like 'digital demonetization,' referring to the shift towards digital transactions, and 'partial demonetization,' which involves withdrawing certain denominations of a currency.
