Definition of Demonitize

De*mon"e*tize (?; see Monetary), v. t. To deprive of current value; to withdraw from use, as money.

They [gold mohurs] have been completely demonetized by the [East India] Company.

R. Cobden.

- Webster's Unabridged Dictionary (1913)

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The correct Spelling of this word is: Demonetize

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