convertibility : Definition, Usages, News and More

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convertibility

kon ver ti bi li tee

  • n  the quality of being exchangeable (especially the ability to convert a currency into gold or other currencies without restriction)

  • Britain's economy is growing stronger; how soon can it afford convertibility, that final stage of financial confidence when British pounds may be freely exchanged with dollars and .
  • Furthermore, at the start convertibility would probably only apply to the current earnings of non-sterling countries.
  • In the CBS system, convertibility can be managed, though awkwardly.
Quotes

  • P Chidambaram in AFP
    The movement toward fuller convertibility of the rupee will necessarily have to be gradual, sequenced and calibrated to the overall macro-economic situation and emerging needs of the economy,Chidambaram said, according to the Press Trust of...
  • Pranab Mukherjee in Economic Times
    Full convertibility of rupee is our ultimate aim. We are gradually moving towards it. But it is not the right time to implement it in one go now,Mukherjee said in reply to a question in the Rajya Sabha.
  • Joseph Yam in Tehran Times
    There is no plan or intention to change the system in any way, such as re-pegging at a different level or widening the convertibility zone," said Joseph Yam, the authority's chief executive since it was set up in 1993.

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