Which of the following statements is TRUE about currencies?
A) The British pound is an example of a nonconvertible currency.
B) Hard currencies are highly unstable currencies.
C) Currencies that are used for international transactions are called nonconvertible.
D) Convertible currencies can be readily exchanged for other currencies.

Question

Quizplus · Accepted Answer

Convertible currencies are those that can be easily exchanged for other currencies without significant restrictions or the need for approval from a central bank. This makes them ideal for international trade and investment.

Which of the Following Statements Is TRUE About Currencies