diff --git a/Gemfile b/Gemfile
index 48285bd5f9c..d181420ea5e 100644
--- a/Gemfile
+++ b/Gemfile
@@ -36,7 +36,7 @@ gem 'cancancan', '~> 1.7.0'
 gem 'ffaker'
 gem 'highline', '2.0.3' # Necessary for the install generator
 gem 'json'
-gem 'monetize', '~> 1.10'
+gem 'monetize', '~> 1.11'
 gem 'paranoia', '~> 2.4'
 gem 'state_machines-activerecord'
 gem 'stringex', '~> 2.8.5'
diff --git a/Gemfile.lock b/Gemfile.lock
index bd64c0af584..ef4384c7301 100644
--- a/Gemfile.lock
+++ b/Gemfile.lock
@@ -319,9 +319,9 @@ GEM
     mini_racer (0.3.1)
       libv8 (~> 8.4.255)
     minitest (5.14.4)
-    monetize (1.10.0)
+    monetize (1.11.0)
       money (~> 6.12)
-    money (6.14.0)
+    money (6.14.1)
       i18n (>= 0.6.4, <= 2)
     msgpack (1.4.2)
     multi_json (1.15.0)
@@ -651,7 +651,7 @@ DEPENDENCIES
   knapsack
   letter_opener (>= 1.4.1)
   mini_racer (= 0.3.1)
-  monetize (~> 1.10)
+  monetize (~> 1.11)
   oauth2 (~> 1.4.4)
   ofn-qz!
   order_management!