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What is the difference between convertible and nonconvertible currency?

Anonymous

∙ 12y ago

Updated: 8/19/2022

Convertible money refers to that money which is linked to gold or any other precious metal .and can be exchanged any time by central bank whereas incontrovertible money refers to that which cannot be converted into gold by central bank.

Wiki User

∙ 12y ago

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What is the difference between softcurrency and hardcurrency?

It USED to be the comparison between paper money and metal money.Now it's just a reference to the assumed stability of two soft currencies. Note A hard currency is freely convertible into other currencies, but a soft currency is hedged about with restrictions on its conversion into other currencies. In some cases a soft currency may be a purely internal currency with no or almost no convertibility.

What is the difference between currency swaps and cross currency swaps?

http://en.wikipedia.org/wiki/Currency_swap

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Yen is the Japanese currency whereas yuan is the currency used in China.

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The price of a floating currency is determined by the currency exchange market while the price of a fixed currency is connected to the price of some other commodity.

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Base currency is traditionaly the stronger currency and also the one which is actually bought or sold when we deal in pairs For e.g. if we BUY GBPUSD then we are Buying GBP and Selling USD , Here GBP is the Base currency and USD is the counter currency

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