demonetize
/di:'mʌnitaiz/ Cách viết khác : (demonetise) /di:'mʌnitaiz/
Definition
- Verb:
- To officially strip a currency, coin, or precious metal of its status as legal tender, making it no longer valid for payment.
- More broadly, to deprive something of its established value or utility in a particular system.
Usage and Examples
- Verb:
- The government decided to demonetize the old banknotes to combat counterfeiting.
- When a country joins a monetary union, it may demonetize its former national currency.
- The sudden policy change effectively demonetized gold for domestic transactions.
Advanced Usage
- "to demonetize content": In digital/media contexts, to remove or reduce the ability for a creator to earn revenue from their online content (e.g., through advertising).
- The platform's new guidelines could demonetize videos that do not meet its standards.
- Passive Voice: Commonly used to describe the state of the currency.
- The silver dollar was demonetized decades ago.
Variants and Related Words
- Demonetization (noun): The act or process of demonetizing.
- The demonetization of high-value notes caused significant public discussion.
- Demonetised/Demonetized (adjective, past participle): Describing something that has been stripped of its monetary status.
- These are demonetized coins, now only valuable to collectors.
- Remonetize (verb): The opposite action; to restore as legal tender.
Synonyms
- Devalue (in a specific monetary context).
- Invalidate (as currency).
- Withdraw (from circulation).
Antonyms
- Monetize.
- Legalize (as tender).
- Validate (as currency).
Related Phrases/Concepts
- To take out of circulation: A descriptive phrase for demonetizing currency.
- The central bank took the old notes out of circulation.
- To cease to be legal tender: The formal result of demonetization.
- Following the announcement, the coin ceased to be legal tender.
Verb
-
deprive of value for payment
-
demonetize a coin
-
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