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Nonconvertible Currency
(redirected from Non-Convertible Currency)

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Nonconvertible Currency
A currency that may not be converted into another currency on the foreign exchange market, or that may be converted only in limited amounts. Some countries limit convertibility to prevent citizens from making bad investment decisions in, say, a country experiencing hyperinflation, while a few communist countries issue nonconvertible currencies to protect their citizens from capitalist influences. A nonconvertible currency is generally traded only on the black market. It is also called a blocked currency or an inconvertible currency.


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However, he stressed Beijing would implement a reform in the exchange rate regime of its non-convertible currency which would lead to a gradual rise.
She said China also benefited from a non-convertible currency "that has worked well.
Statesmen and bankers navigated a new world of non-convertible currency, protecting Britain, weathering increased risks and disruptions, and financing an unprecedented share of international trade.
 
 
 
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