Locking foreign exchange is locking the exchange rate. In banks, this business is called forward settlement and sale of foreign exchange. In the case of frequent exchange rate fluctuations, banks handle the operation of locking the exchange rate for enterprises. You need to sign a contract with the bank to lock in foreign exchange, that is, if you are sure that a certain amount of foreign currency will come in within a certain period of time and you are worried about exchange rate changes, you can apply to the bank for a fixed exchange rate, but if the money does not come in within the specified period of time, you must compensate for a certain exchange rate difference.

Foreign exchange locking is to lock in the foreign exchange income of future income by signing a forward selling agreement. If the exchange rate rises, the general pricing method is direct pricing, that is, the number of unit foreign exchange converted into local currency, the depreciation of local currency, the increase of unit foreign exchange converted into local currency, and the settlement of foreign exchange is locked to avoid income. This is a loss.

Generally speaking, forward settlement of foreign exchange is done when the amount involved is relatively large, the contract time is relatively long and the exchange rate trend is very unstable.

If you signed this agreement with the bank before the exchange rate of the US dollar fell, you would probably get a better price under the exchange rate situation and trend at that time. It is possible that someone else's exchange rate is around 6.82 and yours is 7.05. I earned it at this time.