Cash refers to free transactions in the international financial market, also known as "free foreign exchange". Foreign exchange widely used in international settlement and payment and freely convertible into other countries' currencies. The countries that issue these currencies have loose foreign exchange control and control, and some have even basically abolished foreign exchange control, while some countries have strict foreign exchange control, so their currencies cannot be freely converted into internationally used foreign currencies.
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According to Article 8 of the Agreement of the International Monetary Fund, as a general obligation of member countries, a country's currency must meet three conditions before it can become a cash exchange:
1. There are no restrictions on the current account (trade and non-trade payments) and capital transfer in China's balance of payments.
2. Don't take discriminatory monetary measures or multi-currency exchange rates.
3. At the request of another member state, it is obliged to buy back the remaining domestic currency in the current account of the other party at any time.
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