Meaning of rediscount

re•dis•count

Pronunciation: (rē-dis'kount), [key]
— v.t.
  1. to discount again.
—n.
  1. an act of rediscounting.
  2. Usually,commercial paper discounted a second time.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.