Cash purchase price: refers to the price at which a bank buys foreign currency cash from customers, which is used when customers convert their foreign currency cash into RMB (foreign exchange settlement).
Spot foreign exchange selling price: refers to the price at which banks sell foreign currency spot foreign exchange to customers, which is used when customers convert their RMB into foreign currency spot foreign exchange (foreign exchange trading).
Cash selling price: refers to the price at which banks sell foreign currency cash to customers, which is used when customers convert their RMB into foreign currency cash (foreign exchange trading).
China bank exchange rate: foreign exchange speculation terminology. The conversion price of China Bank is equivalent to the benchmark price. If there is no benchmark price, the middle price converted by China Bank itself. China Bank's converted quotation is the middle price used internally by China Bank, which has no influence on ordinary customers. It is mainly used for currency conversion in internal accounting, internal liquidation after foreign exchange purchase, and calculation of business profit and loss.
Extended data:
The formation of bank foreign exchange quotation is closely related to the management of exchange rate floating range in the inter-bank foreign exchange market, the arrangement of bank foreign exchange settlement and sale system and the management of bank foreign exchange settlement and sale turnover position, which are the key contents of RMB exchange rate system arrangement.
Since 1994, China has been implementing a single and managed floating exchange rate system based on market supply and demand.
This system is embodied in the formation of bank foreign exchange quotations: the median price of several major currencies, such as the US dollar and the Japanese yen, is obtained by the weighted average of transaction prices in the inter-bank foreign exchange market.
This embodies "based on market supply and demand"; The weighted average transaction price is the only benchmark exchange rate in China, which embodies the "single" attribute; In order to balance the supply and demand of foreign exchange and keep the exchange rate basically stable, the central bank often needs to intervene in the market.
Therefore, the RMB exchange rate is "managed"; The inter-bank foreign exchange market and the exchange rate between customers and banks have a certain fluctuation range, which shows that the exchange rate is not completely fixed, but has a certain "floating" range.
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