Noun
The condition or quality of being convertible; capability of being exchanged; convertibleness.
Source: Webster's dictionaryA run on sterling caused Britain to impose exchange controls that fatally weakened the standard; convertibility was not legally suspended, but gold prices no longer played the role that they did before. Source: Internet
As it resulted in considerably reducing U.S. gold stock and U.S. economic influence, it led U.S. President Richard Nixon to unilaterally end the convertibility of the dollar to gold on 15 August 1971 (the " Nixon Shock "). Source: Internet
Both Menem and Cavallo tried to be recognized as the designer of the convertibility plan. Source: Internet
Joule argued for the mutual convertibility of heat and mechanical work and for their mechanical equivalence. Source: Internet
However, partial convertibility exists for bona fide commercial and investment transaction. Source: Internet
A similar idea that works for open and closed terms is convertibility. Source: Internet