Consider the following statements regarding full convertibility of the rupee its free float wit...........

Economic Affairs Foreign Investment

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Consider the following statements regarding full convertibility of the rupee:

its free float with other international currencies.
its direct exchange with any other international currency at any prescribed place inside and outside the country.
it acts just like any other international currency.

Which of these statements are correct?

1 and 2

1 and 3

2 and 3

1, 2 and 3

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Explanation:

Full convertibility of rupee means right of a resident to convert rupee into foreign currency and vice versa for all purposes – both current account transactions and capital account transactions.