1. to remove the legal status of money from a currency or coin; to withdraw from circulation as legal tender
Usage: British spelling (American: demonetizes); third person singular present tense
2. to deprive of monetary value or economic worth
Usage: figurative use

Examples

• The government demonetises old banknotes after introducing a new currency design.
• When the country switched to the euro, it demonetises its former national currency.
• The central bank demonetises coins that are no longer in production.
• Digital payment systems demonetises the need for physical cash in some economies.
• The policy demonetises certain denominations to combat counterfeiting.
• As inflation rises, the currency demonetises in real purchasing power.