Correspondingly, it is like this: cash purchase price (the price of foreign exchange bought by banks = the price of foreign exchange sold by customers).

Spot foreign exchange selling price (the price at which banks sell foreign exchange = the price at which customers buy foreign exchange)

Buying price of cash (the price at which banks buy foreign currency cash = the price at which customers sell foreign currency cash)

Cash selling price (the price at which banks sell foreign currency cash = the price at which customers buy foreign currency in RMB)

The median price is spot = (spot buying price+spot selling price) /2.

Cash = (cash buying price+cash selling price) /2

When you change RMB into foreign exchange, first of all, you have to know what you are used for. If it is used to send money to children abroad, you have to change RMB into foreign exchange cash, because foreign exchange cash is an internationally accepted way of international settlement and repayment. In other words, international transfers are made in cash instead of cash. Cash is deposited in your account after you exchange it, not in kind, and can be transferred freely. At this time, the exchange depends on the spot exchange rate.

If you want to exchange a small amount of foreign currency cash for a visit abroad, due to the control of the safe, the foreign currency that each citizen can exchange every day is limited. If you want to exchange foreign currency cash, you need to make an appointment at the bank in advance. The bank will call back from the vault the night before, and there will be no foreign currency cash in the general outlets. Foreign currency is usually kept in the vault. The next day, it depends on how much you exchange and how many people you bring, because there is a limit to foreign currency exchange. Refer to the cash quotation at this time.

Finally, the difference between foreign currency and foreign exchange is that foreign currency cash has the cost of storage and transportation, so whether you buy cash or buy cash in the bank, the price is the same, that is, cash selling price = cash selling price, but the cash buying price is less than the cash buying price, so when you say that cash is converted into cash, you have to pay a handling fee, which is what we usually call the process of selling cash for cash.