Generally speaking, the foreign exchange transaction price is based on the benchmark exchange rate (the middle price of foreign exchange), but when an enterprise or individual trades with a bank, the price given by the bank will be somewhat different from the benchmark interest rate, and these differences are the mystery of the bank's foreign exchange transaction fee. When investors exchange money in the bank, the bank will give five prices every day: cash purchase price, cash purchase price, selling price, benchmark price and conversion price. There are differences among these five transaction prices. The handling fee for cash transactions is extremely high.
Foreign travel and foreign trade must first convert RMB into foreign currency, which is cash transaction. Compared with other investment transactions, the biggest role of cash transactions is practicality, not investment, so the spread of cash transactions is relatively high.
In the calculation, the interest rate difference between the buying price, the selling price and the benchmark price is the interest rate difference charged by banks in foreign exchange transactions. Because this spread is relatively small, for the convenience of calculation, multiply the difference between the buying and selling exchange rate and the benchmark exchange rate by 10000, which is the spread.