What is demonetisation of money?

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mean of demonetisation

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  1. Prachi

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    Demonetization is the act of stripping a currency unit of its status as legal tender. Demonetization is necessary whenever there is a change of national currency. The old unit of currency must be retired and replaced with a new currency unit.

    The opposite of demonetization is remonetisation where a form of payment is restored as legal tender.

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