What is Demonetization? The economic process of demonetization results in the currency unit of a nation losing its legal tender status. In the case of demonetization, we often refer to real money, such as banknotes and coins, as a currency unit. When a government demonetizes its currency, it effectively loses its value because it can no longer buy goods and services.   Demonetisation, including changes in the country’s currency or the phase-out of obsolete payment methods, can happen for several reasons. Numerous nations have used currency demonetization methods with varying degrees of effectiveness. The Process of Demonetization Demonetization is a … Continue reading Demonetization Procedures how It works