One of the mysteries of the English language finally explained.
- ‘The yuan is already convertible in the current account, but tough controls are still imposed on the currency's convertibility in the capital account.’
- ‘Dire consequences were predicted when, in 1971, Washington announced that it would no longer guarantee the convertibility of gold.’
- ‘To facilitate this, they demanded convertibility for sterling balances.’
- ‘With increasing convertibility on the capital account, they will also attract undue attention from currency speculators.’
- ‘Chinese philosophers believe in the mutual convertibility of blessings and misfortunes and nowhere is this dramatized so vividly as in Chinese officialdom.’
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