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Ratios and OMO

Convertibilit...

Question

Convertibility of rupee means _________.

A

determination its own exchange rate in international market

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B

conversion of rupee into any foreign currency

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C

transfer of funds in international market

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D

none of these

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Solution

The correct option is B conversion of rupee into any foreign currency
Convertibility of rupees refers to the ability of rupees to be converted into any foreign currency backing with the exchange rate that prevails at the time of conversion.

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