noun
- plural of demonetization; the process of removing the status of legal tender from a currency or coin
Usage: economics; finance
Examples
- The demonetizations of old currency notes were announced with a six-month transition period.
- Several countries have carried out demonetizations to combat counterfeiting and inflation.
- The government's demonetizations of high-value bills aimed to reduce black-market transactions.
- Historical demonetizations often occur when nations redesign their monetary systems.
- Economists studied the effects of rapid demonetizations on the economy.