nonconvertible

Nonconvertible describes something that cannot be exchanged or transformed into another form.

The term appears most often in finance, where a nonconvertible currency cannot be freely exchanged for other currencies on international markets, and nonconvertible bonds or securities cannot be converted into company stock.

The country's nonconvertible currency made foreign trade difficult.

Outside finance, nonconvertible may describe any asset or item that lacks the capacity for conversion into something else.