limited convertibility

Limited convertibility meant that hard-currency bills could be settled in zlotys through state banks.

Limited convertibility means that in transactions not related to international trade, it will be harder for Poles to convert zloties into dollars.

If the fund restores confidence in the ruble, the currency could obtain a limited convertibility later this year.

The limited convertibility would be similar to the situation in many European countries after World War II before many currencies were made fully convertible in the late 1950's.

The government authorized Hong Kong last Wednesday to begin trading bonds denominated in Chinese yuan, and has selected Tianjin, not Shanghai, for an experiment with limited convertibility of the yuan.