One of the mysteries of the English language finally explained.
1Not able to be changed in form, function, or character.
- ‘The camera still tended toward the production of noisy clusters of qualitative, subjective, illegible, and inconvertible stuff.’
- ‘‘Don't try to convert the inconvertible,’ he counsels.’
- ‘These citizens will be issued a non-extendable and inconvertible 30-day stay permit free of charge.’
- 1.1 (of currency) not able to be converted into another form on demand.
- ‘The historian Sumner added that they had the effect of driving specie from circulation, creating a currency of inconvertible and depreciated paper, and fueling a business cycle of boom and bust.’
- ‘Thus, the choice between commodity and inconvertible paper is that between determined or undetermined exchange value of the money.’
- ‘But if they are uncovered, then they will affect the demand for metallic money whether they are convertible or inconvertible.’
- ‘For example, Russia was the first country to decimalize its currency and the third country (after China and France) ‘to make sustained use of inconvertible paper money.’’
- ‘From the 1820s to the 1860s, the state was mainly financed by issues of inconvertible paper currency.’
- ‘Surely, there is no precedent for this period's confident adoption of a regime of inconvertible and unregulated money and Credit.’
- ‘Nevertheless, he and his secretary of the treasury, took the decision to declare the dollar inconvertible and disrupt the international monetary system.’
- ‘During part of the period, the United States was on an effective gold standard, during part, on an inconvertible paper standard with floating exchange rates, during part, on a managed paper standard with fixed exchange rates.’
- ‘Thus, the Bank of England's suspension, known as the English Bank Restriction, set the pernicious example that inconvertible bank notes were as ‘good as gold,’ and furnished an abundant sea on which to float bonds.’
- ‘He wished to emphasize that governmental issue of inconvertible paper money in effect was taxation.’
- ‘This, most regrettably, has gone much beyond a precarious domestic Credit scheme and a foray into inconvertible currencies.’
- ‘It is a dominant, but inconvertible, currency.’
- ‘The assurance of payment of inconvertible bonds shall comply with the provisions of Article 24 of this Decree.’
- ‘And if, at the same time, it can be used so that, in Argentina, we can establish a sovereign, inconvertible, distinct currency.’
- ‘Externally inconvertible currencies may be of rather limited value to their holder.’
- ‘Columbia's civil war began in 1885 leading to the issue of inconvertible paper.’
- ‘It is not so, however, with an inconvertible currency.’
- ‘The economics profession is a fiat phenomenon in the same sense as inconvertible paper money.’
- ‘In summation, the Americans were suffering the natural aftereffects of a long war financed by debt and inflation, and exacerbated by the continuing circulation of inconvertible paper currency.’
- ‘Helleiner says that earlier experiences with inconvertible money, which were seen as leading to inflation and periodic crises, added strength to the liberal advocacy of goldconvertible currencies and disciplined monetary policies.’
Mid 17th century: from French, or from late Latin inconvertibilis, from in- ‘not’ + convertibilis (see convertible).
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