Current Account convertibility means that residents and non-residents are allowed to freely buy and sell foreign exchange for transactions related to trade in goods and services, interest payments, remittances, etc.
The Indian rupee was made convertible into which of the following accounts since March 1994 ?
Asked in UKPSC CS Prelims 2012 · Topic: Current Account and Capital Account (Current Account: Definition and Components)
More External Sector of Economy questions
- Which of the following statements is correct with respect to the convertibility of Indian rupee?
- With reference to Balance of Payments, which of the following constitutes/constitute the Current Account? 1. Balance of trade 2. Foreign assets 3. Balance of invisibles 4. Special Drawing Rights Select the correct answer using the code given below.
- Which one of the following items is not included in the Current Account of Balance of Payments in India ?
- Consider the following statements: The Indian rupee is fully convertible I. in respect of Current Account of Balance of Payment. II. in respect of Capital Account of Balance of Payment. III. into gold. Which of these statements is/are correct?
- Assertion (A): Ceiling on foreign exchange for a host of current account transaction heads was lowered in the year 2000. Reason (R): There was a fall in foreign currency assets also.
- The Rupee was made convertible on the current account of the balance of payments in
- Indian Rupee is fully convertible in
- Which of the following not compose the current account in the Balance of payments?