2. Benchmark price:
The benchmark price, also called the middle price, is set by the bank according to the trading situation of various currencies in the international financial market. In China, the SAFE will release the benchmark prices of some currencies, such as US dollars and euros, and other currencies will be calculated by the banks themselves. If you want to change RMB into euros, use the selling price.
Cash:
Cash selling price is the price at which banks sell foreign exchange cash to customers, referred to as cash price for short. Generally higher than the exchange rate (spot buying price).
The purchase price of cash generally refers to the price at which banks buy cash (not cash).
3. Calculation formula:
The middle rate of foreign exchange, also known as the intermediate exchange rate, is the average of the buying exchange rate and the selling exchange rate.
The calculation formula is: intermediate exchange rate = (buying exchange rate+selling exchange rate) ÷ 2.