The foreign account funds registered by the foreign exchange bureau are transferred back to the domestic current account foreign exchange account with the same name, and the bank does not need to review the transaction documents. According to article 163 of document 16 1. 14. When opening an account for depositing foreign exchange funds abroad, a domestic institution shall apply to the local foreign exchange bureau for account opening registration before opening the account. When the above-mentioned overseas deposit accounts repatriate foreign exchange funds, if the account repatriated to China is a current account foreign exchange account or a centralized operation and management account of foreign exchange funds with the same name, the bank may not review the transaction documents, but shall confirm the nature of the funds with domestic institutions. At the same time, when domestic institutions repatriate foreign exchange income from service trade deposited abroad, they shall make indirect declaration of balance of payments statistics. The specific declaration is under the heading of "Recovering money and deposits-Recovering or remitting the principal of overseas deposits", and the transaction code of balance of payments is "80 103 1".

General classification of foreign exchange

According to the degree of restriction: it is divided into freely convertible foreign exchange, limited freely convertible foreign exchange and bookkeeping foreign exchange.

Freely convertible foreign exchange is the most used foreign exchange in international settlement, which can be bought and sold freely in the international financial market, can be used to pay off creditor's rights and debts in international finance, and can be freely converted into currencies of other countries. Such as US dollars, Hong Kong dollars and Canadian dollars.

Limited freely convertible foreign exchange refers to foreign exchange that cannot be freely converted into other currencies or paid to a third country without the approval of the issuing country. According to the regulations of the International Monetary Fund, all currencies with certain restrictions on international current payments and capital transfer are restricted freely convertible currencies. More than half of the national currencies in the world are limited convertible currencies, including RMB.

Bookkeeping foreign exchange, also known as clearing foreign exchange or bilateral foreign exchange, refers to foreign exchange deposited in bank accounts designated by both parties and cannot be converted into other currencies or paid to third countries.

According to source use: it is divided into trade foreign exchange, non-trade foreign exchange and financial foreign exchange.

Trade foreign exchange, also known as physical trade foreign exchange, refers to foreign exchange derived or used in import and export trade, that is, international payment means formed by international commodity circulation.

Non-trade foreign exchange refers to all foreign exchange except trade foreign exchange, that is, all foreign exchange that is not derived from or used for import and export trade, such as labor foreign exchange, remittance, donation foreign exchange, etc.

Different from trade foreign exchange and non-trade foreign exchange, financial foreign exchange belongs to a kind of financial asset foreign exchange, such as inter-bank trading foreign exchange, which is neither derived from tangible trade nor intangible trade, nor used for tangible trade, but used for the management and manipulation of various currency positions.

According to the market trend: it is divided into hard foreign exchange and soft foreign exchange, or strong currency and weak currency.