Question

What do you mean by the term convertibility of currency?

Answer 1

Answer:Currency convertibility is the ease with which a country's currency can be converted into gold or another currency.

Explanation:

Currency convertibility is extremely important for international commerce. When a currency is inconvertible, it poses a risk and barrier to trade with foreigners who have no need for the domestic currency.

There tends to be a correlation between a country's economy and the convertibility of its currency.

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