demonetized Definition
- 1to stop or cease using a certain currency as legal tender
- 2to render a banknote or coin invalid and unusable as a medium of exchange
Using demonetized: Examples
Take a moment to familiarize yourself with how "demonetized" can be used in various situations through the following examples!
Example
The old Rs. 500 and Rs. 1000 notes were demonetized in India in 2016.
Example
The government decided to demonetize the old coins to prevent counterfeiting.
Example
The bank will demonetize the old notes by the end of the year.
demonetized Synonyms and Antonyms
Synonyms for demonetized
Summary: demonetized in Brief
'Demonetized' [dee-mon-i-tahyzd] means to stop using a certain currency as legal tender or to render a banknote or coin invalid and unusable as a medium of exchange. It is often used in the context of government policies or banking procedures, such as 'The old Rs. 500 and Rs. 1000 notes were demonetized in India in 2016.' 'Demonetized' is synonymous with 'discontinue' and 'invalidate,' and can be contrasted with 'monetize,' which means to introduce a new currency.
