What is a convertible currency?

What is a convertible currency?

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What is a convertible currency?

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Verified Answer A convertible currency is the currency which can be traded in currency markets and can be redeemed at current market rates without any government intervention. While dealing in for...

Verified Answer

A convertible currency is the currency which can be traded in currency markets and can be redeemed at current market rates without any government intervention. While dealing in foreign markets, a company needs to exchange the home currency with foreign currency.  It also has alternative references like hard currency or fully convertible currency.

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