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Convertible Currency
(redirected from Freely Convertible Currencies)

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Convertible Currency
A currency that may be exchanged for a foreign currency. Currency convertibility is vitally important in the foreign exchange market; higher convertibility means that a currency is more liquid and, therefore, less difficult to trade. Factors affecting convertibility include the availability of foreign currency reserves in a given country and domestic regulations seeking to protect local investors from bad investment decisions in, for example, a currency undergoing a period of hyperinflation. A few socialist governments even issue inconvertible currencies, such as the Cuban peso, in order to protect their citizens from perceived capitalist infiltration. See also: Inconvertibility.
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Although trade is to be conducted in freely convertible currencies or in currencies mutually agreed upon by the two countries under Article-III of the pact, the trade is functioning mainly under the barter system.
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Hantec Investment Holdings Limited provides leveraged foreign trading services in Hong Kong, including spot and forward foreign exchange dealing and over-the-counter foreign currency option trading in major freely convertible currencies.
Refco Signs Memorandum of Understanding With Hantec Investment ... by PR Newswire
 
 
 
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