Definition

1. Verb (transitive):
   • To officially strip a currency, coin, or other form of money of its status as legal tender, making it no longer valid for payment.
   • More broadly, to deprive something of its monetary value or its established value as a medium of exchange.

Usage

• The primary use is in economic and governmental contexts, describing an official action taken by a monetary authority.
• It is a formal term.
• Sentence Patterns:
  • [Government/Authority] demonetises [currency/coin].
  • [Currency/Coin] is demonetised.

Examples

• Verb:
  • The government decided to demonetise the old high-denomination banknotes to combat corruption.
  • When a country joins the Eurozone, its national currency is demonetised.
  • The silver dollar was demonetised decades ago and is now only valuable to collectors.

Advanced Usage

• Demonetisation (noun): The act or process of demonetising.
  • The sudden demonetisation of the currency caused short-term economic disruption.
• The term can be used metaphorically to describe depriving something of its perceived value in a non-monetary system.
  • Some argue that social media algorithms can demonetise certain types of content by limiting their reach.

Variants and Related Words

• Demonetize: The preferred spelling in American English. It has the same meaning and usage as 'demonetise'.
• Remonetise/Remonetize (verb): The opposite action; to restore a currency's status as legal tender.
• Legal Tender (noun): The officially recognized currency that must be accepted for payment of debts.

Synonyms

• Decommission (in a monetary context): To take (a currency) out of active service.
• Invalidate: To make (a currency) no longer legally acceptable.
• Withdraw (from circulation): To remove (currency) from use.

Antonyms

• Monetise/Monetize: To establish something as legal tender or to convert something into money.
• Issue (currency): To put a currency into circulation.

Notes

• The spelling demonetise is standard in British English, while demonetize is standard in American English.
• The action of demonetisation is typically a sovereign monetary policy decision.

Verb

1. deprive of value for payment
   • demonetize a coin