Currency convertibility is the ease with which the currency of a country can be freely converted into any other foreign currency or gold at market determined exchange rate based on demand and supply for that currency. For example, convertibility of Indian rupee is the ease with which rupee be converted into any foreign exchange like US dollars, Pound sterling, Euro etc and vice versa. The government can put restrictions on foreign exchange convertibility which can lead to low currency convertibility.
To ensure faster growth of the world trade and the flow of capital between different economies, easy convertibility of currency is necessary. The restrictions on the convertibility of different currencies create roadblocks in the flow of capital between different countries which negatively impacts the economic growth and world trade.
Final Destination for Punjab PSC Notes and Tests, Exclusive coverage of PPSC Prelims and Mains Syllabus, Dedicated Staff and guidence for Punjab PSC PPSC Notes brings Prelims and Mains programs for PPSC Prelims and PPSC Mains Exam preparation. Various Programs initiated by PPSC Notes are as follows:-
- PPSC Mains Tests and Notes Program
- PPSC Prelims Exam 2024- Test Series and Notes Program
- PPSC Prelims and Mains Tests Series and Notes Program
- PPSC Detailed Complete Prelims Notes