A full convertible currency is the monetary unit of a country where holders of the currency have the right to convert it freely at the going exchange rate into any other currency. A currency is deemed to be fully convertible if it fulfills the following three criteria: it can be used for all purposes without restrictions; it can be exchanged for another currency without limitations; it can be exchanged at a given exchange rate. A fully convertible currency is the monetary unit of a country where holders of the currency have the right to convert it freely at the going exchange rate into any other currency. A currency is said to be fully convertible if it fulfills one or more of the following three criteria about usability, exchangeability and market value: it can be used for all purposes without restrictions; it can be exchanged for another currency without limitations; It can be exchanged at a given exchange rate.