Definition

The process of removing a currency's status as legal money, making it no longer acceptable for transactions.

Example

The government's decision on demonetization caused a lot of confusion among the public.

Conversation

Did you hear about the recent demonetization of those old coins?

Yeah, it's such a big change for collectors and businesses.

I wonder how it will affect the economy in the long run.

It might lead to some interesting shifts in how people use money.

Synonyms & Antonyms

Root Explanation

Demonetization → It is formed from "de-" (meaning down or away) and "moneta" (from Latin, meaning coin or currency) and "-ization" (meaning the process of). The word refers to the process of removing the currency status from a particular form of money.

Memory Tip

Think of 'removing' ('de-') the 'currency' ('moneta') status — that's what demonetization means.

Visually Confused Words