Question

As per the Reserve Bank of India (RBI), the economic conditions in India are not yet suitable for full convertibility of Rupee. At present Rupee is convertible at which of the following accounts?
A. Fully at Capital Account
B. Fully at Current Account
C. Partially at Trade Account

• A. Only (A)
• B. Only (B)
• C. Only (C)
• D. Only (A) and (C)

Answer 1

Answer: (B)

Only (B)

At present , as per Reserve Bank of India, Rupee is convertible fully at current account. The current account plays an important role in determining the economic status of a nation.