Residents of a South American country are not allowed to convert their currency into other currencies. However, all foreign businesses with deposits in banks there may, at any time, convert all their currency into foreign currency and take it out of the country. The currency in this country is

Multiple Choice

• leading.

• nonconvertible.

• externally convertible.

• freely convertible.

• lagging.

Answer rating: 100% (QA)

The detailed answer for ... View the full answer