An example of calculating import and export commodity prices by converting cif and fob prices

Can you accept this offer? Because the foreign exchange rate is RMB 938. 12 yuan 100, then 400 euros = (400/100) x 938.12 = 3752.48 yuan, and CIF=FOB+ freight.

Therefore, the offer of 400 euros per metric ton CIF Marseille is acceptable.

Note: As export proceeds, foreign exchange settlement needs to be calculated according to the bank's euro purchase price, that is, export proceeds are calculated according to the bank's purchase price, and import payments are calculated according to the bank's selling price.

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