What is the opposite of nonconvertible currency?

Question

Quizplus · Accepted Answer

Nonconvertible currency refers to a currency that cannot be converted to another currency or precious metal. Therefore, the opposite of nonconvertible currency would be a currency that is freely convertible or freely floating currency. This type of currency can be easily traded and converted to other currencies, making it a popular choice for international transactions. Countertrade currency refers to a type of trade where goods or services are exchanged instead of using currency, while gold coin currency is a currency backed by gold reserves. Unregulated currency is a term used to refer to cryptocurrencies or virtual currencies that are not backed by any government or financial institution. None of these options are the direct opposite of nonconvertible currency.

What Is the Opposite of Nonconvertible Currency