Designated banks are all kinds of commercial banks approved by the state to engage in foreign exchange business, such as Industrial and Commercial Bank of China, China Construction Bank, China Bank, Bank of Communications and Agricultural Bank. They can also go to China Merchants Bank, Shanghai Pudong Development Bank, China Everbright Bank and China CITIC Bank.

Domestic convertible foreign currencies mainly include: British pound, Hong Kong dollar, US dollar, Swiss franc, Singapore dollar, Swedish krona, Danish krona, Norwegian krona, Japanese yen, Canadian dollar, Australian dollar, euro, Macao dollar, Philippine peso, Thai baht, New Zealand dollar and Korean won. Other foreign currencies are not convertible in our country.

If an individual needs a small amount of foreign exchange for overseas payment, he can buy foreign exchange in the bank. The annual total is equivalent to 50,000 dollars per person per year. Individuals who purchase foreign exchange with the equivalent of less than $50,000 within one year can go directly to the bank with their valid identity documents. If the amount exceeds the limit, in addition to the personal valid identity certificate, relevant certification materials shall be provided for payment at the designated foreign exchange bank.

Extended data:

Matters needing attention in foreign currency exchange are as follows:

1, it is not appropriate to exchange too much foreign currency cash.

At present, many banks are engaged in exchange rate business, which can handle large amounts of currencies such as US dollars, Hong Kong dollars, Japanese yen, euros, pounds, Australian dollars, Canadian dollars, Swiss francs and Singapore dollars.

Since shopping is mainly by credit card, cash is mainly used to pay for transportation, catering and other expenses. The bank financial planner suggested changing foreign currency as little as possible.

2. The domestic currency exchange time should not be too early.

For residents who need to leave the country, how to choose the exchange time is also a science. The reasonable exchange time mainly depends on the exchange rate fluctuation trend of the converted foreign currency.

3. Small amount of foreign currency is first converted into US dollars in China.

If you want to go to a country, the currency used for settlement cannot be directly converted into local currency in major domestic banks, and don't worry, just convert RMB into US dollars in domestic banks and then convert it into local currency locally.

Baidu encyclopedia-foreign exchange

Baidu Encyclopedia-China Bank