Demonetize

[S.ARCHANA]

Term: Demonetize                                                                                                                                                                                                                                                                                        Meaning:<span style=”color: #111111; font-family: sourcesanspro-regular-webfont, Helvetica, Arial, Verdana, sans-serif; font-size: 17px; line-height: 25.5px; -webkit-text-stroke-width: 0.15px;”>Demonetization is the act of stripping a </span>currency<span style=”color: #111111; font-family: sourcesanspro-regular-webfont, Helvetica, Arial, Verdana, sans-serif; font-size: 17px; line-height: 25.5px; -webkit-text-stroke-width: 0.15px;”> unit of its status as </span>legal tender<span style=”color: #111111; font-family: sourcesanspro-regular-webfont, Helvetica, Arial, Verdana, sans-serif; font-size: 17px; line-height: 25.5px; -webkit-text-stroke-width: 0.15px;”>. Demonetization is necessary whenever there is a change of </span>national currency<span style=”color: #111111; font-family: sourcesanspro-regular-webfont, Helvetica, Arial, Verdana, sans-serif; font-size: 17px; line-height: 25.5px; -webkit-text-stroke-width: 0.15px;”>. The old unit of currency must be retired and replaced with a new currency unit.</span>

[Rajakumarimani]

Withdrawal of a particular form of currency such a old coins from circulation.

[JOHN]

Its the process of removing a currency from general usage or circulation when there is a change of national currency.

Eg and Statement Formation:

Gold was demonetized, when it ceased to be used as an everyday currency.

[boutha priya]

Demonetization is the act of stripping a currency unit of its status as legal tender.

[Hemapriya]

It is the act of stripping a currency unit of its status as legal tender. This is necessary whenever there is a changes in the national currency.

[Author]

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