Is the foreign exchange rate the same as the exchange rate?
The foreign exchange "listing price" is called the foreign exchange "listing price", which is the foreign exchange transaction price that the bank hangs on the counter to customers. Simply put, the foreign exchange quotation is the listed exchange rate, that is, the quotation provided by any foreign exchange institution when you face it.
Domestic bank quotations include benchmark price (not shown in some bank quotation sheets), spot purchase price, spot purchase price, spot selling price and spot selling price (most banks' spot selling price is equal to spot selling price).
The exchange rate is a real-time exchange rate, expressed in the currencies of other countries, and its price is determined by the foreign exchange market. There are many factors that affect the exchange rate. In real life, the exchange rate of the foreign exchange market fluctuates in real time, and the manifestations of the foreign exchange market are also updated at any time.
What's the difference between foreign exchange pricing and exchange rate?
The bank's quotation is calculated according to the exchange rate of the corresponding currency pair plus or minus a certain price difference, and this benchmark price is generally determined by the bank according to the market price and its own position direction, which is basically not much different from the market price.
Usually, on the foreign exchange tables of many banks, there are generally parameters such as cash buying price, cash selling price and cash selling price. There are two kinds of foreign exchange rates: direct exchange rate and indirect exchange rate. Either way, it is necessary to calculate how much foreign currency to exchange through the domestic currency standard.
Generally speaking, the foreign exchange price tag is calculated by the exchange rate, which is the real-time exchange rate and fluctuates in real time. So the foreign exchange quotation basically changes every day except weekends.