The Indian rupee is fully convertible:

1. On Current Account
2. On Capital Account
3. Into gold

Select the correct answer:

1. I alone
2. III alone
3. I and II
4. I, II and III

Explanation

Option (a) is correct

• In August 1994, India accepted the obligations of Article VIII of the IMF’s Articles of Agreement and the rupee was made fully convertible for the current account.

Answer: (a) 1 alone