Convertibility of the rupee implies

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  • Being able to convert rupee notes into gold
  • Freely permitting the conversion of rupee to other major currencies and vice versa
  • Allowing the value of the rupee to be fixed by market forces
  • Developing and international market for currencies in India
Monis Rasool Professor Asked on 11th May 2015 in Economics.
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    Freely permitting the conversion of rupee to other major currencies and vice versa

    Convertibility of the rupee implies, freely permitting the conversion of rupee to other major currencies and vice versa. Here is the means of convertibility an operation or a system where you any amount of rupee can converted into foreign currency without any question asked about the purpose for which the foreign exchange is to be used.

    Monis Rasool Professor Answered on 29th July 2015.
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