Account "refers to the foreign currency cash deposit account held by domestic residents. Foreign exchange remitted or carried by individual residents from abroad
Foreign exchange bills can be understood as "cash" and can be deposited in cash accounts;
Of course, your deposit in the bank should be in cash. Someone remits money to your account from abroad, that is, remits cash. In addition, the exchange of Japanese yen = US dollar is handled in China Bank. When you put it into the passbook of China Bank, the cash of C foreign exchange will be displayed. The buying prices of these two foreign exchange banks will be higher than cash, and this cash will be lower than cash.
First of all, the buying price refers to the exchange rate used by foreign exchange banks to buy foreign exchange, and the selling price refers to the exchange rate used by foreign exchange banks to sell foreign exchange. Foreign exchange at this time refers to foreign exchange deposited by foreign banks, such as US dollars. Therefore, the buying price and selling price in the foreign exchange quotation are the spot exchange rate.
Secondly, the spot price is the price used by foreign exchange banks to sell the spot. Cash at this time refers to foreign exchange cash (paper money), not foreign bank deposits.
Thirdly, because cash and cash are two different concepts, when a bank purchases cash, it can directly transfer the purchased foreign exchange to its foreign bank account, and there will be no interest loss. However, when buying foreign currency cash, it needs to be kept in the bank's inventory for a period of time, so that enough foreign currency cash (such as 1 10,000 USD) can be deposited in other banks to earn interest. Therefore, when a bank purchases foreign currency cash, there will be interest loss compared with buying cash. Of course, this part of the loss will be borne by the party selling foreign currency cash, so the cash purchase price in the bank quotation will definitely be lower than the cash purchase price, and this law will never change, just as the deposit interest rate will always be lower than the loan interest rate.
Finally, the selling price of cash is the same as that of cash, because in this case, the bank has no interest loss, right? Therefore, the bank separately indicates the cash buying price, and there is no cash selling price.
Therefore, if your dollar assets are not in the form of foreign bank deposits or foreign currency payment vouchers (such as bills of exchange, promissory notes, telegraphic transfer vouchers, etc.). ), you have to pay in cash to lose a little.
If you sell the cash to the bank, you are selling your foreign exchange deposit in a foreign bank to the bank. This foreign exchange deposit was transferred from your name to the bank's name from the moment you sold it to the bank. As long as the bank does the corresponding accounting treatment, it can immediately get this foreign exchange deposit in a foreign bank and start calculating interest immediately.
If the bank buys cash, because the foreign currency cash can't circulate locally, it needs to be shipped abroad, not only can't get the deposit and interest immediately, but also have to pay the cost of keeping the cash. Only when the cash has accumulated to a sufficient amount can the bank transport these foreign currency cash abroad and deposit it in foreign banks. Banks can obtain foreign exchange deposits in foreign banks and start earning interest. The specific expenses that banks need to pay to exchange foreign currency cash include: cash management fee, transportation fee, insurance fee, packaging fee, etc. These expenses are reflected in the difference between the cash purchase price and the cash purchase price.