1, the exchange to buy, the exchange to sell the median price is the average of the bank's buying price and selling price, it is generally used to analyze and study the foreign exchange market.

2, benchmark price:

Benchmark price, also known as the median price, is the bank according to the international financial market buying and selling of various currencies developed in China's foreign exchange bureau will be released in a number of currencies benchmark price, such as the dollar euro, etc., and other currencies of each line of the bank's own calculations. If you want to exchange the yuan for the euro then use the selling price.

Note:

The note selling price is the price at which the bank sells the foreign exchange note to the customer, referred to as the note price. It is generally higher than the exchange rate (spot buying price).

The spot buying price is generally the price at which the bank buys spot currency (not banknotes).

3, the formula:

Foreign exchange rate is also called the middle rate, is the average of the buying rate and selling rate.

Calculation formula: middle rate = (buying rate + selling rate) ÷ 2