What are the key trade offs in The Impossible Trinity Start

What are the key trade offs in The Impossible Trinity? Start by picking a country (besides the United States) that you know of fairly well and find its exchange rate regime here: https://en.wikipedia.org/wiki/List_of_countries_by_exchange_rate_regime

Given what you know about the exchange rate from above, what can you assume about its capital account and/or monetary policy?

Solution

The tradeoff is between fixed exchange rate, free capital movement and an independent monetary policy. For given fixed exchange rate monetary policy is not independent. Similarly there is tradeoff between free capital movement and exchange rate.it

I picked Indian rupee. Monetary policy is independent in India but there is no full capital account convertibility in independently