demonetize
verb [ T ]
(UK also demonetise) uk/ˌdiːˈmɒnətaɪz/ us ECONOMICS, FINANCE
to officially stop using particular notes or coins, or a particular currency:
In 2002 the currencies of twelve European countries were demonetized and replaced with the Euro.
demonetization
noun [ U ] (UK also demonetisation)
This is a reminder about the imminent demonetization of the RM1000 currency notes.