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What are spot exchange rate and forward exchange rate?
Spot foreign exchange transactions refer to foreign exchange transactions in which both parties conduct transactions according to the spot exchange rate in the foreign exchange market on the trading day and make delivery on the delivery date.

Forward foreign exchange transactions refer to foreign exchange transactions in which buyers and sellers make delivery at the agreed exchange rate within the agreed time limit.

The above contents are for your reference. Please refer to the actual business regulations.

If you have any questions, please contact online customer service of Bank of China.

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