2. You need to bring your ID card and account book when you exchange foreign exchange, but not all outlets undertake exchange business. Bank outlets that can exchange foreign exchange will have green currency exchange signs. If you are not sure, you can ask the staff.
At present, the domestic foreign exchange quota is at most 50,000 dollars per person per year or other forms of foreign currency. If it exceeds the quota, you need to go through some special application procedures. Of course, you can also exchange it with someone else's quota.
4. You can also exchange foreign exchange through online banking at home. Both China Merchants Bank and Bank of China have related businesses, but the premise is that online banking needs to be opened.
5. Foreign exchange can also be deposited in the bank for life or death, but the specific interest needs to be consulted with the bank.
Extended data
Exchange method
1, it is difficult for a newcomer to the foreign exchange market to understand the corresponding price of one currency relative to another. However, when we exchange money, it becomes easy to understand. Let's give a very simple example to illustrate. As we all know, one pound can buy a bottle of Coca-Cola. How do traders know that 1 GBP equals 1.5 USD?
Generally speaking, the price of money represents the economic health of a city.
When the British economy is in good condition, the value of the pound will become higher relative to other currencies. Therefore, when the pound appreciates and every company, government and individual in Britain invests more and more pounds, everyone will want to get more pounds. In other words, just like when the British economy is better, the value of the pound is higher.
In this way, the pound is more valuable than other economies. On the other hand, if the growth rates of these two countries are the same, then their currency values may be the same, so their foreign exchange ratio may also remain unchanged.
Investors can predict the future trend by reading the news and invest in this currency through currency traders. If the facts are better than expected, the currency will appreciate and investors will make a profit.
6. For a simple example, if the exchange rate of the pound against the US dollar is 1: 1.5, we can convert 100 into US dollars through traders. A few days later, the annual GDP announced by the United States was better than expected, and the exchange rate became 1: 1.4.
This is a very simple core of the foreign exchange market. When traders talk about buying or selling goods, they are talking about exchanging one currency for another and getting benefits from it.
References:
Baidu encyclopedia-foreign exchange