Foreign currency is the abbreviation of "foreign currency", which refers to the currency of other countries or regions other than domestic currency.
Foreign exchange is the creditor's rights held by the monetary management authorities (central bank, monetary management institutions, foreign exchange stabilization fund and Ministry of Finance) in the form of bank deposits, treasury bonds and long-term and short-term government securities. , which can be used when the balance of payments is in deficit.
Including foreign currency, foreign currency deposits, foreign currency securities (treasury bonds, treasury bonds, corporate bonds, stocks, etc.). ) and foreign currency payment vouchers (bills, bank deposit vouchers, postal savings vouchers, etc.). ).
Foreign exchange can be traded all over the world, and foreign currency can only be used in countries that support this foreign currency.
If a foreign currency is to be used in other countries that do not support it, it must be purchased.
When a bank sells foreign currency, the price of cash is the same as that of cash. When buying foreign currency, the price of cash is higher than that of cash.
The cash purchase price is the local currency amount payable to the seller when the bank purchases one unit of foreign currency cash.
If users want to send money after purchasing foreign exchange, they must choose to purchase foreign exchange in cash, otherwise they need to convert cash into cash and pay the fee for converting cash into cash. The calculation formula of money transfer fee: money transfer fee (RMB) = remittance amount (foreign currency) × (cash selling price-cash buying price).
The US dollar equivalent settlement and reference exchange rate are for reference only, and the final result is subject to the exchange rate when the settlement transaction is submitted.
Renminbi is converted into dollars at the spot exchange rate. Dollars are converted into RMB. If you want to transfer money, buy it in cash. If you want to withdraw cash, buy it in cash.
Example: 100 yen can be exchanged for 5. 1905 RMB (transfer: spot purchase price).
5.232 1 RMB convertibility 100 yen (transfer: cash selling price).