When did the rupee become a freely convertible currency of current account in india
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The rupee has been convertible on thecurrent account since 1994, meaning it can be changed freely into foreigncurrency for purposes like trade-related expenses
Rupee is partially convertible into foreign currency as capital account convertibility has not been permitted till date by the monetary authority i.e. RBI. Full convertibility in current account is accepted and for export and import purposes rupee is fully convertible.
Rupee is partially convertible into foreign currency as capital account convertibility has not been permitted till date by the monetary authority i.e. RBI. Full convertibility in current account is accepted and for export and import purposes rupee is fully convertible.
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