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What does demonetized mean?

Looking for the meaning or definition of the word demonetized? Here's what it means.

Verb
  1. simple past tense and past participle of demonetize
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Examples
They have, at least temporarily, demonetized Federal Reserve Notes,, by substituting chips.
If gold was really to be demonetized, then the enormous stocks relative to flows would have to be dissipated first through consumption.
In an economy that only three years ago was as demonetized as Cambodia under the Khmer Rouge, people are now allowed to fix bicycles, repair shoes and sell sundries at sidewalk stands.
The dollar remains a stable currency backed by a highly productive economy with low inflation and by the assurance that it will not be demonetized, recalled, or devalued.
Illustration 22-1: Articles and advertisements were published suggesting that there was a current value for once valid World War I era bonds that had been demonetized by statute and by international treaty.
The Rs 5 banknote and the old design Rs 500 banknote have already been demonetized, said State Bank of Pakistan statement here on Monday.

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