A partially convertible currency is the monetary unit of a country where holders of the currency face legal constraints to convert it freely at the going exchange rate into other currencies. A currency is said to be partially convertible if one or more of the following three criteria about usability, exchangeability and market value are not fully enforced: 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.