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Convertibility of Rupee
Convertibility: meaning
Convertibility refers to the ease with which the domestic currency of a country could be exchanged with that of a foreign currency. It also implies that no restriction is imposed on the end use of the currency exchanged. Thus the four connotations that are attached with the convertibility are: 1. Ease of exchange of domestic currency with the foreign currency
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2. There is no limit or cap on the amount, to exchange the currency 3. The above two points (1 and 2) hold good irrespective of the purpose of exchange or the end use. 4. All this (1, 2 and 3) happens without the need for permission from a central bank or government entity.
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Indian scenario
In India we have partial rupee convertibility i.e. the rupee is convertible on the current account but not on the capital account.
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2012-10-04 09:22
2012-11-03 15:33
+3
w ith rising fdi cap in almost all sector including insurance , banking , single brand retail , multiple brand retail , defence , infrastructure after being initiated by declining grow th and fiscal consolidation , I suppose fuller capital convertibility is must to attract the required investment and in order to mitigate the fulluctUation in volatile fii , instruments like Tobin tax can be handy To roll back the economy in it's original track Reply | Reply w ith quote | Quote
2013-01-18 13:09
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