Convertibility of rupee implies

Convertibility of rupee implies?

  1. developing an international market for currencies in India
  2. being able to convert rupee notes into gold
  3. freely permitting the conversion of rupee to other currencies and vice-versa
  4. allowing the value of rupee to be fixed by market forces

The correct option is iii.freely permitting the conversion of rupee to other currencies and vice-versa

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