The so-called benchmark price is also called the middle price, which refers to the compromise between the prices of foreign exchange purchased and sold by banks. It is formulated by banks based on the buying and selling conditions of various currencies in the international financial market. In my country, the State Administration of Foreign Exchange will issue some The base price of currencies, such as US dollars and euros. If you want to exchange RMB for Euros, use the selling price.

The benchmark price is available for major currencies, such as US dollars, pounds, euros, Japanese yen, Hong Kong dollars, etc. The bank's central parity rate is generated based on the benchmark price, weighted by the exchange rates of the corresponding currency and major currencies. The central parity rate of a major currency is its base price. The calculation formulas for the bid evaluation benchmark price include: range downward float rate method, fixed downward float rate method, quadratic average method, and extreme value quadratic average method.