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Demonetise for Dummies

verb

pronunciation: di'mɑnɪ,taɪz

What does Demonetise really mean?

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Alright, so "demonetise" is a word that means to officially declare that a currency is no longer valid. Like, let's say you have a new version of a coin or a bill, and the government decides that the old version is no longer going to be used or accepted. That's when they "demonetise" it. It's kind of like when a new model of a phone comes out and the older version becomes obsolete. So, when a currency is demonetised, people have to exchange their old money for the new one, or it just becomes worthless. It's a big deal because it can impact the economy and people's daily lives. It's like saying, "hey, this money is no good anymore, so you have to get rid of it and use something else instead." Does that make sense?

Revised and Fact checked by Robert Taylor on 2023-11-09 18:31:13

Demonetise In a sentece

Learn how to use Demonetise inside a sentece

  • The government decided to demonetise the old currency in order to fight black money and corruption.
  • The bank announced that it would demonetise the old coins and issue new ones in their place.
  • Shops and businesses had to quickly adapt to the decision to demonetise certain denominations of currency.
  • The decision to demonetise the high-value currency notes led to long lines at ATMs and banks as people rushed to exchange their money.
  • The announcement to demonetise certain banknotes caused confusion and uncertainty among the population.

Demonetise Synonyms

Words that can be interchanged for the original word in the same context.

Demonetise Hypernyms

Words that are more generic than the original word.