Cash refers to foreign currency bills and vouchers remitted from abroad or brought in or sent in from abroad. In our daily life, we often come into contact with overseas remittances and traveler's checks.

Buying price in cash:

Refers to the exchange rate used by banks to buy foreign currency cash. Because banks have to bear higher costs after buying cash than buying cash. When you sell the cash to the bank, you sell your foreign exchange deposit in a foreign bank to the bank. This foreign exchange deposit was transferred from your name to the bank's name from the moment you sold it to the bank. As long as the bank does the corresponding accounting treatment, it can immediately get this foreign exchange deposit in a foreign bank and start calculating interest immediately.

Spot foreign exchange selling rate:

It is the exchange rate used by banks to sell foreign exchange (the currency listed on the left side of the "/"in the price list, that is, the base currency). Refers to the price of foreign currency sold by banks to customers, which customers use when purchasing foreign exchange. This is exactly the opposite concept to the buying price of cash. The difference between the selling price and the buying price is the total profit of the bank.

Selling price in cash:

Simply put, the bank sells you foreign currency, and uses the local currency (RMB) to get the meaning that the bank exchanges foreign currency.

Bank exchange rate:

The benchmark price is used in accounting, which is the exchange benchmark published by the People's Bank of China.

Commercial banks generally buy foreign exchange from customers at the buying price (lower than the benchmark price) and sell foreign exchange to customers at the selling price (higher than the benchmark price).