GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The Currency Convertibility concept in its original form is originated in
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Taylors agreement
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Wells agreement
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Bretton Woods agreement
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Symmonds agreement
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Explanation:
Detailed explanation-1: -It was developed at the United Nations Monetary and Financial Conference held in Bretton Woods, New Hampshire, from July 1 to July 22, 1944.
Detailed explanation-2: -Currency convertibility can be defined as the ability to exchange one currency for another at a given conversion rate and in terms of the usability of a currency for foreign transactions.
Detailed explanation-3: -Full convertibility would mean the rupee exchange rate would be left to market factors without any regulatory intervention. There may be no limit on inflow or outflow of capital for various purposes including investments, remittances, or asset purchases/sales.
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