Currency name spot foreign exchange buying rate cash buying rate selling rate benchmark price China bank exchange rate release date

1 126.32 109 1.55 1 135.37 1 133.59 1 133.59 59209-65439

Now I want to buy 100 in China Bank, and it costs 1 135. 37 (selling price) RMB, and then the bank clerk will ask you whether to buy foreign exchange or paper money. If I choose the former, my account will be extra 100. The latter is also more than 100 yuan (notes). The difference is. When I want to change 100 in my account into RMB. If it is 65,438+000 (RMB), then I can change it into RMB, that is, 65,438+065,438+026.32 (spot exchange rate), but I have to pay more 50 yuan RMB (single exchange fee). If it is 100 (paper money), then I can change RMB into 109 1.55 yuan.

Foreign exchange benchmark price:

From 65438 to 0994, China implemented a single and managed floating exchange rate system based on market supply and demand. The People's Bank of China publishes the weighted average price of RMB as the benchmark exchange rate on a daily basis according to the price of inter-bank foreign exchange transactions on the previous day. Foreign exchange transactions between banks and customers can fluctuate within the benchmark range of 0.0025, and inter-bank foreign exchange transactions can fluctuate within the benchmark price range of 0.003. At the same time, we should consolidate the exchange rate and implement a single exchange rate system.

Central parity of foreign exchange:

For example, if you want to change your RMB into foreign exchange, the bank will help you change it at a certain exchange rate, which is called the selling price. If you want to convert foreign exchange into RMB, the bank will buy your foreign exchange at a certain exchange rate, which is called the buying price. But the selling price and buying price of the day were higher than the buying price. Because foreign exchange transactions are risky, banks must profit from them to resist risks, selling prices and buying prices.