Demonetise (Verb)
Meaning
Deprive of value for payment; "demonetize a coin".
Classification
Verbs of size, temperature change, intensifying, etc..
Examples
- The new government's decision to demonetise the old currency caused widespread economic disruption.
- In 1969, the United States demonetised the 50-cent and larger gold coins that had been minted in 1933.
- Some analysts believe that the rapid advancement of digital payment systems may eventually lead to the demonetisation of cash.
- When the note's security was compromised, the central bank acted quickly to demonetise it and reissue new ones.
- In an attempt to curb tax evasion, the government was considering plans to demonetise large denomination banknotes.