1. to remove the legal status of a currency or coin as money; to withdraw from circulation as legal tender
Usage: British spelling; American spelling is 'demonetizing'; often used in the context of government policy
2. to deprive of monetary value or economic worth
Usage: figurative or extended use

Examples

• The government announced it was demonetising old banknotes to prevent counterfeiting.
• India's decision to demonetise high-value currency notes shocked the economy.
• By demonetising the coins, the central bank hoped to modernize the payment system.
• The policy of demonetising outdated currency helped transition the nation to digital payments.
• Demonetising assets without warning can create financial instability.
• The central bank is demonetising the 500-rupee note effective immediately.