Economics (M.Phil./Ph.D.) 2016 Panjab University Entrance Exam With Answers

Practice Mode:
40.

Full Convertibility of a rupee means:

A: Purchase of foreign exchange against rupee freely
B: Payment for imports in terms of rupee
C: Repayment of loans in terms of rupee
D: Determination of rate of exchange between rupee and foreign currencies freely by the market forces of demand and supply

The answer is: D

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