Capital Account Convertibility of the Indian Rupee implies
Options
(a)that the Indian Rupee can be exchanged by the authorised dealers for travel
(b)that the Indian Rupee can be exchanged for any major currency for the purpose of trade in goods and services
(c)that the Indian Rupee can be exchanged for any major currency for the purpose of trading financial assets
(d)None of the above
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Class 12Open Economy Macroeconomics— NCERT Economics, Chapter 6. An open economy trades goods and services and financial assets with the rest of the world; imports are a leakage from, and exports an injection into, the circular flow.…
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