Inconvertibility (Noun)
Meaning
The quality of not being exchangeable; "the inconvertibility of their currency made international trade impossible".
Classification
Nouns denoting attributes of people and objects.
Examples
- The country's strict currency controls led to the inconvertibility of its currency on the global market, severely limiting its economic growth.
- The inconvertibility of the local currency to major currencies like the US dollar made it extremely difficult for tourists to exchange their money.
- Due to the inconvertibility of their currency, the government was forced to implement strict regulations on foreign trade, hindering the country's economic development.
- The inconvertibility of the country's currency was a major obstacle to international trade, making it nearly impossible for businesses to import or export goods.
- The economic crisis was exacerbated by the inconvertibility of the country's currency, which made it difficult for citizens to access foreign currencies for essential imports.