demonetization


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de·mon·e·tize

 (dē-mŏn′ĭ-tīz′, -mŭn′-)
tr.v. de·mon·i·tized, de·mon·i·tiz·ing, de·mon·i·tiz·es
1. To divest (a coin, for example) of monetary value.
2. To stop using (a metal) as a monetary standard.

[French démonétiser : dé-, away from (from Old French de-; see de-) + Latin monēta, coin; see money.]

de·mon′e·ti·za′tion (-tĭ-zā′shən) n.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.demonetization - ending something (e.g. gold or silver) as no longer the legal tender of a country
ending, termination, conclusion - the act of ending something; "the termination of the agreement"
monetisation, monetization - establishing something (e.g. gold or silver) as the legal tender of a country
Translations

demonetization

[diːˌmʌnɪtaɪˈzeɪʃən] Ndesmonetización f
References in periodicals archive ?
There were also some short-term costs of demonetization in form of inconvenience and hardship, especially to those in the informal and cash-intensive sectors of the economy, however "it was taken care of very soon".
New Delhi: On the Indian economy, the Comptroller and Auditor General (CAG) is auditing the impact of the controversial demonetization.
It is further clarified that SBP Act, 1956 clearly defines the roles and responsibilities of different institutions including SBP for issuance, circulation and demonetization or cancellation of banknotes.
Specifically, section 25 of the Act requires a recommendation of SBP Board of Directors before the Federal Government makes any decision about the demonetization or cancellation of banknotes.
The bank has further clarified that SBP Act-1956 clearly defines the roles and responsibilities of different institutions including SBP for issuance, circulation and demonetization or cancellation of banknotes.
Further, in case of demonetisation of any banknote, SBP announces the same well in advance and provides ample time to public to change the currency under demonetization process.
Issues widely discussed in India in the past two years have been about Demonetization and GST.
Taking stock of the impact of note-ban reform, IIF said, "Demonetization in late 2016 affected 85% of cash in circulation and activity took a deep hit as distribution of new banknotes was slow.
The demonetization not only controls counterfeit notes that could be contributing to terrorism and to eliminate the "black economy" but also help for financial deepening.
The Commerce Department at Indian School Wadi Kabir organized'ECONOMIX ', an inter-school competition featuring a debate on the motion:'Demonetization- A Step in the Right Direction ' along with 'Fashion Gala ', a fashion show centered on the themes of Demonetization, Globalization and Bitcoins.
To recall a popular saying, demonetization was like burning the house to kill the rats!
At the time of demonetization, I was a medical post graduate student, but even then it was evident that it played havoc with the medical profession.