CoachA currency is convertible when anyone may exchange it for foreign currency, for any purpose, at a market rate. A capital control is a legal restriction on such exchanges or on the cross-border movement of money: limits on who may buy foreign currency, for what, how much, or how quickly it may leave or enter the country.
Quantitative Finance · Glossary
What is Convertibility, capital control?
Also known as: convertibility · capital control