Definition

To take away the monetary value of something, such as a coin or currency, making it no longer usable as money.

Example

The government decided to demonetize the old currency notes to prevent counterfeiting.

Tense Forms

Conversation

Did you hear they plan to demonetize those old coins?

Yeah, it seems like a strange move to me.

I guess they want to make way for new currency.

True, but I wonder how that will affect collectors.

Synonyms & Antonyms

Root Explanation

Demonetize → It is formed from "de-" (meaning down or away) and "monetize" (from Latin "moneta", meaning coin or money, combined with the suffix "-ize", meaning to make). The word "demonetize" means to remove the monetary value or status from something, effectively taking it away from being used as money.

Memory Tip

Think of 'taking away' ('de-') the 'money' ('moneta') status from something — that's why demonetize means to remove its value as currency.

Visually Confused Words