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Business, 18.07.2019 21:30 piratesfc02

Acurrency is said to be freely convertible when: residents alone are allowed to convert it into a foreign currency without any limitations. neither residents nor nonresidents are allowed to convert it into a foreign currency. both residents and nonresidents are allowed to purchase unlimited amounts of a foreign currency with it. its exchange rate with respect to other currencies is decided by the central bank of the country.

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