According to Article 2 of the Detailed Rules for the Implementation of the Measures for the Administration of Individual Foreign Exchange, the annual total amount management is implemented for individual foreign exchange settlement and domestic individual foreign exchange purchase. The annual total is equivalent to 50,000 dollars per person per year. The State Administration of Foreign Exchange may adjust the annual total according to the balance of payments.
The settlement and purchase of foreign exchange within the individual's annual total amount shall be handled at the bank with his valid identity certificate; If it exceeds the annual total, it shall be handled in accordance with Articles 10, 11 and 12 of these Rules under the current account, and in accordance with the relevant provisions of "Personal Foreign Exchange Management in Capital Account" of these Rules under the capital account.
Article 4 individuals may entrust their immediate family members to handle the purchase and settlement of foreign exchange within the annual total; Overseas individuals who purchase foreign exchange, settle foreign exchange and purchase foreign exchange in excess of the annual total amount may entrust others to handle it according to the provisions of these Detailed Rules with relevant certification materials.
Extended data:
Different currencies have different exchange ranges.
A freely convertible foreign currency can be freely converted into other currencies without restriction.
Limited convertible foreign currencies can only be exchanged under certain conditions, such as only a certain number of people can exchange them, or the amount of exchange is limited.
Non-convertible foreign currencies are not allowed to be converted into other currencies, or can only be converted into other currencies through special permission.
Foreign currency is divided into narrow sense and broad sense, which refers to the currency of other countries or regions other than the domestic currency, including all kinds of banknotes and coins. Foreign currency in a broad sense refers to all payment vouchers expressed in foreign currency that can be used for international settlement.
In addition to foreign banknotes and coins, it also includes foreign securities held by enterprises, such as government bonds, government bonds, corporate bonds, stocks and dividends expressed in foreign currencies; It also includes foreign currency payment vouchers, such as bills expressed in foreign currency, bank deposit vouchers, postal savings vouchers, etc., and other foreign currency funds, such as various foreign currency remittances, foreign currency payment in import and export trade, etc. Its meaning is consistent with the static meaning of foreign exchange.
Baidu encyclopedia-foreign currency