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 can be readily exchanged for other currencies, while nonconvertible currencies are not usually accepted for international trade or currency transactions. Hard currencies are stable and highly valued, while the British pound is an example of a convertible currency.

Which of the Following Statements Is True About Currencies