在布列登森林系统下，资本不能从一个国家自由的流通到另外一个国家，这是由于有外汇兑换控制。
Under Bretton Woods, capital could not flow freely from one country to another because of exchange controls.
中国外汇体制改革的最终目标是实现人民币完全自由兑换。
The destination of Chinese policy on foreign exchange system is to realize Renminbi free exchange.
外汇储备作为国家货币的后盾，必须能够自由兑换——因此可认为是紧急情况下的流动性——而且比较稳定。
As a backstop, reserves need to be easily convertible (so they can be used as an emergency source of liquidity) and a good store of value.
应用推荐