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250

Q:

At present, full convertibility of the rupee is applicable in India on which of the balance of payments?

  • 1
    Current account
  • 2
    Capital account
  • 3
    Trade account only
  • 4
    All of the above
  • Show Answer
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Answer : 1. "Current account"
Explanation :

He said that the government had allowed the rupee to be fully convertible in the current account in 1994. Since then, the rupee is being made convertible in the capital account also. At present, the Indian currency is convertible only in the current account.

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