1. At present, the People's Bank of China, the China Banking Regulatory Commission, the China Securities Regulatory Commission, the State Administration of Foreign Exchange and their branches have not approved any institution to carry out or act as an agent to carry out foreign exchange business, and it is illegal for China deposit business to conduct foreign exchange deposit transactions without approval;
2. It is also illegal for customers (units or individuals) to entrust unapproved institutions to conduct foreign exchange deposit transactions (whether foreign currency or RMB is used as deposits).
Trading market
1. Foreign exchange trading refers to buying one currency in a pair of currency combinations and selling the other currency at the same time. The exchange rates of various currencies in the international market fluctuate frequently, and they are traded in the form of currency pairs, such as Euro/USD or USD/JPY.
2. The main advantage of foreign exchange trading market lies in its high transparency. Due to the huge transaction volume, the main funds (such as government foreign exchange reserves, capital exchanges of multinational consortia, capital operation of foreign exchange speculators, etc.). ) has a very limited impact on market exchange rate changes. On the other hand, from the fundamental analysis of exchange rate fluctuations, it is usually important data released by governments (such as GDP and GNP central bank interest rates), speeches by senior government officials, or news released by international organizations (such as the European Central Bank) that can have a greater impact.
3. Futures company transactions. There is no specific place or central exchange in the foreign exchange market. All transactions are conducted between banks through the Internet. Any financial institution, government or individual in the world can participate in trading 24 hours a day. The foreign exchange market runs continuously for 24 hours, rising and falling, and never stops. Its trend is like the transition between day and night on the earth, and it goes on and on. Accordingly, the market trend of exchange rate is divided into four stages: bottoming, rising, topping and falling.
4. Foreign exchange, called Foreign currency in English, is a creditor's right held by monetary management organs (central bank, monetary management institutions, foreign exchange stabilization fund and Ministry of Finance) in the form of bank deposits, treasury bonds and long-term and short-term government securities. Can be used when the balance of payments is in deficit. Including foreign currency, foreign currency deposits, foreign currency securities (treasury bonds, treasury bonds, corporate bonds, stocks, etc.). ) and foreign currency payment vouchers (bills, bank deposit vouchers, postal savings vouchers, etc.). ).