Definition of demonetize in English:

demonetize

Line breaks: de|mon¦et|ize
Pronunciation: /diːˈmʌnɪtʌɪz
 
, -mɒn-/
(also demonetise)

verb

[with object]
Deprive (a coin or precious metal) of its status as money: coins minted with the name and portrait of Emperor Caligula were demonetized after his death
More example sentences
  • There's talk of demonetizing the penny altogether.
  • They have, at least temporarily, demonetized Federal Reserve Notes,, by substituting chips.
  • It is not up to the governments to monetize or demonetize a commodity.

Origin

mid 19th century: from French démonétiser, from dé- (expressing reversal) + Latin moneta 'money'.

Derivatives

demonetization

Pronunciation: /-ˈzeɪʃ(ə)n/
noun
More example sentences
  • In the initial stages it involved an attempt to reduce the value of gold and silver relative to banknotes, ultimately followed by a policy announcing the complete demonetization of gold and a phased series of reductions in silver.
  • The demonetization of cowries or manillas (copper rods) provoked strong protest from people whose savings were in these forms, to such a degree, indeed, that the British were eventually forced to offer conversion facilities.
  • The source of the problem was the initial demonetization of gold and silver which took place between 1913 and 1945.

Definition of demonetize in:

Get more from Oxford Dictionaries

Subscribe to remove ads and access premium resources

Word of the day salmanazar
Pronunciation: ˌsalməˈnazər
noun
a wine bottle twelve times the standard size...