con·vert·ibil·ity \kənˌvər]d.əˈbiləd.ē, -və̄], -vəi], ]təˈ-, -ətē, -i\noun (-es) 1.: the quality of being convertible; specifically: the ability of currency to be exchanged for gold or other currencies without restriction < a bilateral convertibility of the currencies of the two friendly countries > 2.: the ability, the freedom, or the right to exchange a currency for gold or other currencies without restriction < the two countries adopted a mutual convertibility >