Bookkeeping foreign exchange, also known as clearing foreign exchange or negotiated foreign exchange, refers to the currency used as the pricing unit in international settlement according to bilateral or multilateral payment agreements.

Bookkeeping foreign exchange generally exists in the form of special accounts set up by the central banks of the two countries. At the end of the year, the banks of the two sides offset the import trade volume and related ancillary expenses to obtain the difference.

The balance can be transferred to the next year's trade items for balance, or it can be paid off with free foreign exchange agreed by both parties in advance.

Extended data:

trait

1. Selling foreign exchange on credit is conducive to promoting the development of international trade and saving cash at the same time. It is a common means of international settlement in international trade activities.

2. Bookkeeping foreign exchange cannot be converted into other currencies, nor can it be paid to a third country. It can only be used to pay the trade payment and auxiliary expenses between the two countries as stipulated in the agreement and other payments agreed by the two governments.

3. Bookkeeping foreign exchange is used when the two sides open clearing accounts with each other to save the use of cash in bilateral trade. The year-end balance of bookkeeping foreign exchange is carried forward to the next year, and the two governments will consider the balance in the next year's trade activities.

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