First of all, cash and cash are two different forms of foreign exchange assets held by China residents. In definition, cash refers to foreign exchange deposits remitted from foreign banks to China, and international settlement documents such as foreign currency bills of exchange, promissory notes and traveler's checks that banks can directly account for through electronic cost-effectiveness ratio. Cash refers to foreign currency notes held by domestic residents. To be clear (according to the concept of RMB), cash is equivalent to the bank card (peony card of ICBC and Great Wall card of Bank of China) you get from the bank, and cash is equivalent to the RMB at hand. Cash is the foreign currency on the books, and cash is the foreign currency on hand.

The biggest difference for us is that it is more valuable, because foreign currency cannot be circulated in China, but must be circulated in the world. Therefore, in terms of circulation, your cash can be directly settled electronically, so the liquidity of cash is better than that of cash, which determines that the price is a little more expensive when banks buy cash. In addition, after receiving foreign currency cash, banks need some time to accumulate a certain amount before they can transport it and deposit it in foreign banks for allocation and use. Prior to this, banks that buy foreign banknotes have to bear certain interest losses; In the process of transporting cash and depositing it in foreign banks, there are freight, insurance and other expenses. Banks have to pass on these losses and expenses to customers who sell cash, so the price paid by banks for cash is lower than that of cash.

Usage: If it is in China, I think it is used for international settlement, and the settlement process is no different except the price. If you go abroad, your settlement is no longer an inter-bank settlement. I don't think cash is the same as cash. If you bring cash, you can use it directly in foreign markets, but if you bring cash, you must go to the bank and change it into cash before you can use it locally. One more thing, in China, if you want to transfer your foreign exchange from one bank to another, you have to transfer the cash through the bank, and you have to pay a certain handling fee. If it is cash, you only need to take it out of one bank and deposit it in another bank, without any handling fee.

To sum up, it is better for you to cash it only in China, because the selling price is high, it will be more convenient to cash it in other parts of the world, and it will be more convenient to circulate it in China.

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