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Blocked Currency

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Blocked Currency
Any currency that is mainly used for domestic transactions and does not freely trade on a forex market (usually due to government restrictions). Also referred to as a "nonconvertible currency".

Notes:
It is very difficult (if not impossible) to convert the blocked currency into a freely traded one such as the U.S. dollar.

Blocked currency
A currency that is not freely convertible to other currencies due to exchange controls.
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