Bd_srinivas
Finance Executive

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Hi Could anyone pls tell me about the current account convertibility & how will it help common people.
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HI,
Current account convertibility allows free inflows and outflows for all purposes other than for capital purposes such as investments and loans. In other words, it allows residents to make and receive trade-related payments — receive dollars (or any other foreign currency) for export of goods and services and pay dollars for import of goods and services, make sundry remittances, access foreign currency for travel, studies abroad, medical treatment and gifts etc.
Regards,
Srinivas.
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