It should be the selling price

The selling price is the price at which the bank sells foreign currency to the customer, which is the price at which the customer goes to the bank to purchase foreign currency; while the buying price is the price at which the bank sells foreign currency to the customer. The quoted price when buying foreign exchange or foreign currencies from customers is divided into two types: cash buying price and spot foreign exchange buying price. The spot exchange buying price is the price at which banks buy spot foreign exchange, while the cash buying price is the price at which banks buy foreign currency cash.

Cash exchange and cash are different concepts. They are two different forms of foreign currency after it is deposited in the bank. Banknotes can be deposited and withdrawn, but not remittances, which can only be exchanged into banknotes. However, remittances can be sent abroad like remittances, but banknotes cannot be exchanged, and must be exchanged for cash.

As for why it is different, it is because banks will bear risks in the process of foreign exchange transactions, so they must control the spread to earn fees for providing services.

The selling price of spot exchange and the selling price of cash are the same, that is, the selling price.

Middle price = (spot buying price + spot selling price)/2

The benchmark price is a middle price announced by the People's Bank of China. Other commercial banks can use the benchmark price based on the benchmark price. On the market, set your own buying and selling prices according to the floating range prescribed by the People's Bank of China.

The middle price is formed by the market, and the benchmark price is announced by the People's Bank of China. I hope it can be helpful to you