Spot purchase price refers to foreign currency bills and vouchers imported from abroad or brought in or sent in from abroad. In our daily life, we often come into contact with overseas remittances and traveler's checks.

There are two differences between cash purchase price and cash purchase price:

1. Cash can be directly remitted abroad, and only remittance fee is required. If you want to remit cash abroad, you need to pay transportation fees and insurance premiums, that is, the difference between cash and foreign exchange, that is, the difference between the cash purchase price in the bank quotation and the cash purchase price.

2. The price of converting cash and cash into RMB is different. The purchase price of cash is lower than that of cash, so don't directly change foreign remittance into cash payment, and don't directly withdraw cash. It's better to change it into RMB directly at the bank.

Extended data:

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.

References:

Spot buying price-Baidu Encyclopedia

Cash purchase price-Baidu Encyclopedia