When a Currency Is Nonconvertible

question 68

Multiple Choice

When a currency is nonconvertible:

• A)the country's government allows both residents and nonresidents to purchase unlimited amounts of a foreign currency with it.
• B)only nonresidents may convert it into a foreign currency without any limitations.
• C)neither residents nor nonresidents are allowed to convert it into a foreign currency.
• D)only residents may convert it internally into a foreign currency.