Current Account Full Convertibility refers to the ability to freely convert a country’s currency for transactions related to the current account of the balance of payments, which includes trade in goods and services, income, and current transfers. This means individuals and businesses can exchange their currency without restrictions for purposes such as importing or exporting goods, receiving remittances, or paying for services. Full convertibility enhances international trade and investment by reducing currency risk and promoting confidence among foreign investors. It allows for greater flexibility in managing foreign exchange and facilitates smoother cross-border transactions, ultimately contributing to economic growth.