CONVERTIBLE CURRENCY Definition

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CONVERTIBLE CURRENCY is any national currency that can be easily exchanged for that of another country.

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MITIGATING is a reducing in force or intensity.

INCOME SMOOTHING refers to measures taken to reduce the probability of income shocks before they occur, and includes strategies like diversifying income sources; making low-risk production and employment choices; building up physical, human, and social assets; and ensuring good financial management.

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