Demonetize: meaning, definitions and examples
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demonetize
[ˌdiːˈmɒnɪtaɪz ]
Definition
financial context
To demonetize something refers to the action of withdrawing the legal status of a currency as a medium of exchange. This can apply to physical currency, such as coins or banknotes, or to digital currencies. The process of demonetization often aims to combat inflation, reduce counterfeit money, or transition to a new legal tender. It can lead to significant economic impacts and public reaction, affecting both businesses and consumers.
Synonyms
Examples of usage
- The government plans to demonetize old banknotes next month.
- Demonetizing the currency was a controversial decision.
- In an effort to control the economy, they decided to demonetize certain denominations.
Interesting Facts
Etymology
- The word 'demonetize' combines 'de-' indicating removal, and 'monetize,' which comes from the Latin word 'moneta,' meaning currency.
- Emerging in the late 20th century, 'demonetize' primarily refers to government actions changing the value or recognition of currency.
Economics
- Demonetization is often implemented to combat corruption by removing high-denomination currency notes from circulation.
- One of the most famous instances of demonetization occurred in India in 2016 when the government declared certain high-value currency notes invalid to fight black money.
Social Media and Digital Platforms
- On platforms like YouTube, 'demonetize' refers to when a video no longer earns advertising revenue, often due to content issues.
- Creators often face demonetization if their content is deemed unsuitable for advertisers, sparking debates about censorship.
Pop Culture
- Demonetization is a popular topic in discussions about financial literacy and economic policies, inspiring documentaries and news analyses.
- Many content creators have expressed frustration over sudden demonetizations, leading to community outcries and movements for transparency.
Legal Aspects
- In finance, demonetization can also refer to the legal process of removing a currency's status as legal tender, impacting financial contracts.
- Demonetization can invoke legal challenges, especially when it affects public trust in government and financial systems.
Translations
Translations of the word "demonetize" in other languages:
🇵🇹 desmonetizar
🇮🇳 डिमोनेटाइज़ करना
🇩🇪 demonetisieren
🇮🇩 demonetisasi
🇺🇦 дослідити
🇵🇱 demonetyzować
🇯🇵 デモネタイズする
🇫🇷 démonétiser
🇪🇸 desmonetizar
🇹🇷 demonetize etmek
🇰🇷 디모네타이즈하다
🇸🇦 إلغاء النقد
🇨🇿 demonetizovat
🇸🇰 demonetizovať
🇨🇳 去货币化
🇸🇮 demonetizirati
🇮🇸 afnema peninga
🇰🇿 доллардан айыру
🇬🇪 დემონეტიზაცია
🇦🇿 demonetizə etmək
🇲🇽 desmonetizar