A feature offered on some bonds, debentures, and preferred stock that allows the holder to exchange the security for common stock at a stated conversion price or ratio.

The fixed 1-1 exchange rate system between the peso and the US dollar that existed in Argentina from April 1, 1991 to January 7, 2002. See also Lecop. Corralito – The law that froze bank demand deposits (checking and savings accounts), both dollar- and peso-denominated, in December 2001. Holders have the option of withdrawing small amounts each month, or receiving a BODEN 2005, 2007 or 2012 in a Canje exchange.

Possibility, by express official commitment, of exchanging a currency for gold or another currency convertible into gold or which is accepted worldwide.

Ease of exchanging one currency for that of another nation or for gold.

The attribute of being exchangeable, such as a currency freely able to be exchanged for another, or as preferred stock or bonds to be exchanged for common stock.

Convertibility is the quality of money which is officially backed by government reserves of a precious metal, probably the gold standard. Under convertibility, currency is seen as more reliable and less prone to exchange-rate fluctuations (though gold, of course, also changes in value). The Bretton Woods Institutions were set up partially to allow countries to peg their currencies to the US dollar instead of their own gold reserves; the U.S. eventually abandoned the gold standard, and thus convertibility, in 1971.

A feature in term life insurance that allows the insured to replace the term coverage with permanent individual life insurance without having to show evidence of insurability. In group insurance, the right is available only at certain times, including termination of the insured from the group or from an eligible class within the group.

provision of policy allowing conversion from one insurance plan to another

The right of a policyholder to exchange an existing policy for other policies offered by the insurance company. Owners of term life insurance policies often have a contractual right to "convert" their term policies to any permanent plan the company sells. Some group disability plans allow conversion to individual policies under certain conditions.