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Demonetization

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Demonetization
Government withdrawal of a form of currency from circulation e.g. a particular note, coinage, or precious metal.


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Sudden demonetization would, for a start, bring down the circulation of black money since you would have to explain to the authorities how you came into possession of the cash you wanted to exchange for new legal tender.
Of course, the argument for demonetization can be drawn from the scarcity of coins found in hoards which bear Caligula's portrait.
8) The final chapter in the demise of the ruble area started in late July 1993, when the Russian authorities announced the demonetization of pre-1993 rubles in Russia.
 
 
 
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