Quote Originally Posted by PAn8tv View Post
I have an idea of what "FULLY CONVERTIBLE CURRENCY" means. Can someone explain this on a really basic level. Thanks

It means that we can let the top down on the car and scream "WWWEEEEEEEEEEEE", "WOOOOOHOOOOOOOO", or "YIIIIPPPPEEEEEE" (choose your preference) all the way to the bank!!!!

Seriously, I recently took a college class in International Business, and the definition of convertible currency (hard currency) is shown as:

"Currency that trades freely in the foreign exchange market, with its price determined by the forces of supply and demand"

Maybe someone else has a better definition of the full meaning, but that is what I am finding. I can only assume (and we all know what that does) that fully convertible currency means that we can go to any bank that deals in foreign currency and exchange it for your area's current currency (dollar, euro, peso, etc.).

Patty