Convertible currency
Convertible currency is a currency that can be traded in the currency markets and can be redeemed at current market rates.
Definitions
According to Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition),
- Convertible currency. A currency that can be traded in the currency markets and can be redeemed at current market rates.
Related concepts
- Financial management. A combination of enterprise efforts undertaken in order to procure and utilize monetary resources of the enterprise.
