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Banking System and Capital Market Questions and Answers for Competitive Exams

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Q.

Full convertibility of a rupee means

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

Answer & Explanation

Answer: Option [D]

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