demonetize
/diːˈmʌnɪtaɪz/
verb
- To officially stop a currency or coin from being used as money.
- The government decided to demonetize the old 1000-rupee notes.
- The central bank announced plans to demonetize the silver rupee.
- Many countries demonetize outdated coins to introduce new ones.
- To remove the monetary value or legal status of something.
- The law allows the state to demonetize any currency deemed counterfeit.
- Some collectors were upset when the treasury demonetized the commemorative coins.
- The museum had to demonetize the old foreign coins in its collection.
Antonyms