2. Delivery means that the buyer and the seller perform the transaction contract, giving and receiving money and goods. The delivery of foreign exchange transactions refers to the behavior that the buyer pays the domestic currency and the seller pays the foreign exchange. Due to different delivery dates, the exchange rate will be different.
Exchange rates are divided into seven categories.
(1) According to the evolution of the international monetary system, there are fixed exchange rates and floating exchange rates.
(2) According to the method of setting exchange rate, there are basic exchange rate and arbitrage exchange rate.
(3) According to the angle of buying and selling foreign exchange, there are buying exchange rate, selling exchange rate, intermediate exchange rate and cash exchange rate.
(4) According to the bank's foreign exchange payment methods, there are wire transfer exchange rate, letter exchange rate and bill exchange rate.
(5) According to the delivery period of foreign exchange transactions, there are spot exchange rates and forward exchange rates.
(6) According to the severity of foreign exchange management, there are official exchange rates and market exchange rates.
(7) According to the bank's business hours, there are opening exchange rates and closing exchange rates.
There are many long-term factors affecting the exchange rate, but they are basically some fundamental factors; Short-term factors generally include economic data, economic news and central bank intervention in the market. Among them, economic data can sometimes change fundamental factors, because the data itself is a reflection of fundamentals. With the continuous growth of foreign exchange trading volume, the central bank's intervention is becoming more and more frequent, and there are many heavy measures, but the effects are different.
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