Blocked Currency

What does it Mean? Any currency that is mainly used for domestic transactions and does not freely trade on a forex market (usually due to government restrictions).  Also referred to as a "nonconvertible currency".
Investopedia Says... It is very difficult (if not impossible) to convert the blocked currency into a freely traded one such as the U.S. dollar.

Terms Related Links

Currency
Dirty Float
Exchange Control
Floating Exchange Rate
Forex

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