Classified by the angle of buying and selling foreign exchange by banks

1. Buying exchange rate

The bid price, also known as the bid price, refers to the quoted exchange rate adopted by banks for a foreign exchange in transactions.

2. Selling exchange rate

Selling Rate, also known as selling price/selling price, is the exchange rate used by banks to quote a certain foreign exchange in transactions.

3. Intermediate exchange rate

The middle price, also known as the middle point, is the average of the buying price and the selling price. It is not the actual transaction price in foreign exchange transactions, but a parameter used to describe the overall fluctuation level of exchange rate. Intermediate exchange rate is generally used for news reports and theoretical research.

4. Cash exchange rate

The exchange rate of bank notes, also known as cash price, refers to the exchange rate used by banks to buy and sell foreign exchange cash to customers. The exchange rate of cash also includes the buying price and selling price of cash. Since cash cannot be directly circulated outside the issuing country, the holder needs to convert different foreign currencies into the currency of the place of use before it can be used for payment. The buying price of cash in the bank is lower than that of cash.