Sentence examples for full convertibility from inspiring English sources

"Full convertibility does not necessarily and should not mean total freedom to convert without, for example, the need to seek approval from any authority or to report".Essentially, he suggested that China would relax its capital controls but retain the option of reimposing them as needed the very essence of gated globalisation.

Economic reformers have long hankered after full convertibility.

Mr Singh said he had asked the RBI to "revisit" the issue of full convertibility of the rupee.

China seems in no hurry to move towards full convertibility of the yuan and greater exchange-rate flexibility.

Full convertibility is necessary for other countries' central banks to hold renminbi in their foreign exchange reserves instead of the dollar, but not sufficient by itself.

"The Chinese authorities see full convertibility as a long-term objective, recognizing this is essential for the renminbi to become an international reserve currency," Mr. Prasad said.

"Since the mainland is targeting the gradual achievement of full yuan convertibility, Qianhai should be a pioneer for progress," said Zhang Xiaoqiang of the National Development and Reform Commission, China's planning body.The plan poses some puzzles.

In contrast, Beijing will not rush into full renminbi convertibility — part of the push to make it a global currency — by dismantling capital controls at a time when volatile capital flows in emerging markets are raising concerns about economic stability.

His predecessor came up against the limits of the independence of the central bank in August 2007, when President Yar'Adua vetoed his planned package of bold reforms to restructure the naira and achieve full currency convertibility.

Michael Klein, professor of international economics at Tufts University and author of a book on exchange rates, noted that allowing full currency convertibility would mean giving up a powerful macroeconomic lever that is critically important to China's export sector — a major jobs engine.

Certainly, in terms of some of the bolder promised measures, like full currency convertibility and interest rate liberalisation, China's policy makers do appear to be moving cautiously.