Under the Foreign Exchange Management Act (FEMA) framework, Current Account Convertibility refers to freedom to convert currency for:

AImport/export of goods, services, and remittance transactions

BPurchase of foreign real estate assets

CForeign stock market acquisitions

DLong-term sovereign debt buying

Explanation

Current account convertibility allows unrestricted currency conversion for international trade in goods, services, and short-term transfers.

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