Definition: Currency convertibility refers to the ease with which a currency can be exchanged for another currency or gold without restrictions or significant delay. Convertible currencies can be freely traded in the foreign exchange market, making them widely accepted for international transactions.
Examples of convertible currencies include the US dollar (USD), euro (EUR), British pound (GBP), and Japanese yen (JPY). These currencies are trusted and accepted worldwide, facilitating global trade and investment.
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