A country's currency is referred to as ________ when its government allows both residents and nonresidents to purchase unlimited amounts of a foreign currency with it.

Name: A country's currency is referred to as ________ when its government allows both residents and nonresidents to purchase unlimited amounts of a foreign currency with it.
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Question

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A currency is termed "freely convertible" when there are no restrictions on the amount of foreign currency that can be purchased by residents and nonresidents.

A Country's Currency Is Referred to as ________ When Its