Foreign exchange quotation, that is, the foreign exchange listing price of designated foreign exchange banks, is the buying and selling price between various foreign currencies and RMB set by banks (referring to the same foreign exchange quotation of the head office, branches and head offices) according to the middle price of RMB market and the middle price of international foreign exchange market published by the People's Bank of China. This price is unchanged on the same day, but it may change on different days.

What's the foreign exchange rate?

In China, the foreign exchange quotation is directly priced in RMB, that is, how much RMB is converted into a certain amount of foreign currency is listed and announced. There are three kinds of quotations for each foreign currency, namely, foreign exchange buying price, foreign exchange selling price and cash buying price. The selling price is the exchange rate at which the bank sells foreign currency to customers, that is, the exchange rate at which customers purchase foreign exchange from banks; The bid price is the quotation when the bank buys foreign exchange or foreign currency from customers, which is divided into spot purchase price and spot purchase price. The cash purchase price is the quotation when the bank buys cash, and the cash purchase price is the quotation when the bank buys foreign currency cash. The exchange rates of domestic monetary units against other monetary units shall be uniformly promulgated by the State Administration of Foreign Exchange. In China, the People's Bank of China announces the central parity of RMB against other major countries daily according to the price formed in the inter-bank foreign exchange market the day before.

Foreign exchange quotation

Spot buying price: refers to the price at which banks buy foreign currency spot and customers sell foreign currency spot.

Cash purchase price: refers to the price at which banks buy foreign currency cash from customers.

Spot foreign exchange selling price: refers to the price at which banks sell foreign currency to customers, which customers use when purchasing foreign exchange. This is exactly the opposite concept to the buying price of cash. The difference between the selling price and the buying price is the total profit of the bank.

The benchmark price is only applicable to major currencies, such as USD, GBP, EUR, JPY and HKD.

Spot foreign exchange exchange rate: that is, the middle price is the average price of buying price and selling price.

Seeking adoption is a satisfactory answer.