The buying price of cash refers to the price at which banks buy foreign currency cash from customers.

These two prices are used when customers convert foreign currency cash and cash into RMB (settlement) respectively.

The selling price is the exchange rate at which a bank sells its quasi-currency. Refers to the price of foreign currency sold by banks to customers, which customers use when purchasing foreign exchange.

The conversion price of BOC is used internally by BOC and has no influence on ordinary customers.

Supplement: Why do some currencies have benchmark prices and some only have middle prices? Why is the buying price of cash more expensive than cash? However, are the prices of cash and cash equal?

1. The benchmark price is only applicable to major currencies, such as USD, GBP, EUR, JPY and HKD. The central parity of a bank is generated by weighting the exchange rates between the corresponding currencies and major currencies on the basis of the benchmark price. The middle price of major currencies is its benchmark price.

2. Compared with cash, cash exchange can save some cash storage and overseas transportation costs, so its price can be higher. Cash and cash selling price are foreign exchange sold by banks to customers. At present, neither cash nor cash can be paid directly in China, so banks have to pay the same price for potential overseas payments to customers.