Demonetized: meaning, definitions and examples
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demonetized
[ ˌdiːˈmɒnɪtaɪzd ]
financial context
The term demonetized refers to the act of stripping a currency unit of its status as legal tender. This process often occurs when a government or central bank decides to invalidate old currency notes or coins, making them no longer acceptable for transactions. Demonetization can be part of a broader economic strategy, such as combating inflation or implementing new currency designs. The removal of legal tender status can create confusion and disruption among the public, especially if not properly communicated.
Synonyms
decommission, invalidate, revoke.
Examples of usage
- The old notes were demonetized last year.
- Many businesses were affected when the currency was demonetized.
- After the demonetization, people rushed to exchange their old bills.
Translations
Translations of the word "demonetized" in other languages:
🇵🇹 desmonetizado
🇮🇳 डिमोनेटाइज्ड
🇩🇪 entmonetisiert
🇮🇩 dimonetisasi
🇺🇦 демонетизований
🇵🇱 demonetyzowany
🇯🇵 デモネタイズされた
🇫🇷 démonétisé
🇪🇸 desmonetizado
🇹🇷 demonetize edilmiş
🇰🇷 비화폐화된
🇸🇦 غير مضمون
🇨🇿 demonetizovaný
🇸🇰 demonetizovaný
🇨🇳 去货币化的
🇸🇮 demonetiziran
🇮🇸 demonetized
🇰🇿 деконетизацияланған
🇬🇪 დემონეტიზებული
🇦🇿 demonetizə edilmiş
🇲🇽 desmonetizado
Etymology
The term 'demonetized' has its roots in the world of finance and economics. The prefix 'de-' is from Latin, meaning 'down from' or 'away from,' while 'monetize' derives from the Latin word 'moneta', which refers to money or coinage. The use of the word in English dates back to the late 19th and early 20th centuries when several countries considered demonetization as part of their economic reforms. Over time, the term has been applied to various contexts, including currency reform, change in monetary policy, and economic crises. The demonetization process gained significant attention with the demonetization actions taken by various governments in the 21st century, most notably India's in 2016, which aimed to combat black money and counterfeit currency.