Economics · Banking and Currency
What does the full convertibility of the Indian rupee imply in the current economic framework?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The rupee value is strictly fixed against the US Dollar.
- 2The rupee can be converted into gold freely.
- 3The rupee is freely convertible into foreign currencies for all current account transactions.✓
- 4The rupee is fully convertible for capital account transactions without any limits.
Correct answer
The rupee is freely convertible into foreign currencies for all current account transactions.
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