remonetize
Definition
- Verb:
- To restore as legal currency: "remonetize" means to re-establish something (such as silver, gold, or paper money) as official money or legal tender after it had been demonetized or withdrawn from circulation.
- To reinstate monetary value: To give back monetary status or function to a commodity or instrument that previously lost that status.
Usage Examples
- (They restored silver as official currency.)
- (The coins were given legal tender status again.)
- (They will make old notes usable as legal money once more.)
Advanced Usage
"to remonetize a commodity": to restore a physical good (e.g., gold, silver) to the role of official money.
- The proposal to remonetize gold was debated by economists. (The idea of making gold legal tender again was discussed.)
"to remonetize a currency": to reintroduce a previously withdrawn currency into circulation.
- The nation sought to remonetize its pre-war currency after the conflict ended. (They brought back the old money as legal tender.)
Variants and Related Words
Remonetization (n): the process or act of remonetizing.
- The remonetization of silver took years to implement. (The restoration of silver as currency required time.)
Demonetize (v): to withdraw from use as legal tender.
- The government decided to demonetize the old notes. (They removed their official status as money.)
Monetize (v): to convert into or establish as money.
- The company plans to monetize its online content. (To turn it into a source of revenue.)
Synonyms
- Reinstate as currency: to restore to official monetary use.
- Re-establish as legal tender: to make something valid money again.
Phrasal Verbs
- (No common phrasal verbs directly associated with "remonetize.")
Related Idioms
- (No common idioms directly associated with "remonetize.")