Definition of "convertibility" [con•vert•i•bil•i•ty]
The quality of being convertible(noun)
The quality of a currency of being exchangeable for gold or other currencies(noun)
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Use "convertibility" in a sentence
"Note that the element of convertibility is not a prerequisite; it is sufficient only to commit to the price of gold becoming the "alarm signal" for the real bills doctrine to work."
"Argentina, trying to put an end to years of runaway inflation, pegged its peso to the dollar through a so-called convertibility program in 1991."
"And as with Argentina's pre-2002 "convertibility" regime, which rigidly pegged the Argentine peso to the dollar, Greece is denied the one policy option that could ease its economic pain: a currency devaluation."