What do you think of the bank exchange rate card? How the exchange rate is determined

When looking at the foreign exchange rate, these numbers represent the exchange rate, which means that 1 pound = 10*CNY.

1. If you buy pounds from the bank, then you have to look at the selling price, the so-called "sell" is that the bank sells the foreign exchange it holds to you.

2. If you want to sell your own foreign exchange to the bank, then it depends on whether your foreign exchange is cash or spot exchange, in layman's terms, cash is that you are now holding the pound banknote in your hand, at this time you go to the bank to exchange RMB, that is, with the "cash price", also because the bank to you ** foreign exchange, so called "**price". And the spot exchange is what you have, the foreign exchange is already stored in the bank, you don't take the cash, at this time you go to the bank to change the yuan is to use the "spot exchange price".

3. Take the selling price: For example, if you take 1,000 yuan to exchange for pounds, then you can exchange pounds for 1,000 pounds, so you can exchange pounds for pounds.

4. As for the benchmark price and the converted price of the Bank of China, it will not be used when purchasing foreign exchange.

Spot rate** = the rate at which the foreign currency remitted directly to your account from abroad is sold to the bank.

Cash ** price = the price at which you sell the foreign currency cash (banknotes) to the bank.

Selling price = the price at which the bank sells you the foreign currency when you buy it from the bank.

Simple and easy to remember: the highest selling price--- the lowest spot ** price--- the lowest cash ** price.

The benchmark price and the converted price of the Bank of China (there used to be a median price) are useful for the public, but meaningless for the private!

Currency Name: Spot**Price, Cash**Price, Selling Price, Benchmark Price, Release Time: GBP 07:08:24

HKD 07:08:24

USD 07:08:24

CHF 07:08:24

SGD 07:08:24

SEK 07:08:24

Danish krone 07:08:24

NOK 07:08:24

JPY 07:08:24

CAD 07:08:24

AUD 07:08:24

EUR 07:08:24

MOP 07:08:24

Philippine Peso 07:08:24

Thai Baht 07:08:24

NZD 07:08:24

KRW 07:08:24

Clearing CHF 07:08:24

Initially, the banknotes issued by each country were pegged to **, and then the exchange rate level of each country was determined according to the ratio of banknotes to **. For example, a $1 note contains grams, while a pound sterling is worth 1 pound.

The gold content of banknotes is grams (the gold content is the reserve of each country according to its own banknote issuance.

The ratio of the gold content of the banknotes of the two countries becomes the basis for the determination of the exchange rate, and the exchange rate between the pound sterling and the US dollar is, that is, 1 pound is equal to the US dollar.

Extended Materials. The exchange rate refers to the comparison and exchange rate between the currencies of two countries. RMB exchange rate.

That is, the comparison and exchange rate between RMB and foreign currencies.

The RMB exchange rate represents the external value of the RMB, which is formulated and adjusted by the State Administration of Foreign Exchange on the basis of the principle of independence and unity, with reference to the comparative level of domestic and foreign prices and the fluctuation of the exchange rate in the international financial market, and is announced at home and abroad day by day.

That is, the number of foreign currencies in a fixed unit (such as etc.) is converted into a certain amount of RMB, which is used to express the exchange rate of RMB against foreign currencies.

The size of the fixed unit of foreign currency depends on the value of each foreign currency, except for the renminbi against the Belgian franc and the Italian lira.

The exchange rate is 10,000 units (10,000) and the exchange rate against the Japanese yen is 100,000 units (100,000) units, and the exchange rate for all other foreign currencies is based on 100 units (100) units.

The RMB exchange rate generally refers to the exchange rate of RMB to foreign currencies**, that is, how many foreign currencies one RMB or 100 RMB is exchanged for. An increase in the RMB exchange rate means an appreciation of the RMB.

The RMB exchange rate was formulated and published by the State Administration of Foreign Exchange until 1994, and after the RMB exchange rate was merged on January 1, 1994, a single, managed floating exchange rate system based on market supply and demand was implemented, the People's Bank of China.

According to the ** formed in the interbank foreign exchange market on the previous day, the exchange rate of the renminbi against the US dollar and other major currencies is announced, and each bank uses this as a basis to list itself within the floating range stipulated by the People's Bank of China.

Bank of Communications. Chief economist Lian Ping said that China's labor productivity in the future.

Sustained rapid improvement, balance of payments to maintain a surplus pattern, monetary policy.

The existence of stable and tight foreign exchange reserves, high foreign exchange reserves, and the difference between Chinese and foreign investment returns and interest rates will inevitably lead to the appreciation of the RMB, but it will not appreciate significantly, and it is more likely to be basically stable, fluctuate in both directions, and appreciate slightly in the medium and long term.

According to data released by the Bank for International Settlements a few days ago, the real effective exchange rate index of the renminbi in November rose slightly from October. In November, the central price of the renminbi shook higher, opened the month, and closed at.

You can get the above data: British pound to Chinese yuan =, spread = bank charged).

This is a matter of price comparison, and to put it bluntly, it is to see which currency is worth it. Originally, it was based on the amount of gold in each country's currency, but now it is almost out of this way. At present, the factors that determine the exchange rate are generally the economic development of a country, the demand for its own currency in the world, and the supply of foreign exchange in the country.

Prior to 20 July 2005, we used a fixed exchange rate system. It is pegged to the US dollar, and the exchange rate has not changed relative to the US dollar. However, since then, China has carried out the reform of the RMB exchange rate system, and now it is using the management floating exchange rate system.

It is to peg to a basket of currencies and fluctuate according to the supply and demand of the market in a certain space.

The People's Bank of China determines the middle of the reference according to the above factors**.

In countries with free floating exchange rates, the exchange rate is determined solely by market conditions.

In the past, it was the gold standard, and the currency exchange rate of a country was determined by the amount of money it owned, but now it is determined by pegging to foreign currencies or goods, which can be a basket of currencies or a basket of goods. As mentioned above, the principle applied in it is PPP parity purchasing power, and the daily change in the exchange rate is due to supply and demand in the international financial market

Summary. Hello, exchange rates are constantly changing, and the most accurate exchange rates can be obtained through banks, foreign exchange trading platforms or financial **. Different institutions and platforms may have slightly different exchange rates, so it is recommended that you compare multiple parties and choose a more credible institution or platform to check the exchange rate.

At the same time, it is important to note that exchange rates are also affected by various factors such as politics and economics and may fluctuate, so you need to be cautious when trading foreign exchange.

Hello, the exchange rate is constantly changing, and the most accurate exchange rate can be obtained through banks, foreign exchange trading platforms or financial **. Different institutions and platforms may have slightly different exchange rates, so it is recommended that you compare them and choose a more credible machine search structure or platform to check the exchange rate. At the same time, it should be noted that the exchange rate is also affected by various factors such as politics and economics, and may fluctuate, so you need to be cautious when trading foreign exchange.

Can you elaborate on that a little bit more?

Hello, the exchange rate is constantly changing, and the most accurate exchange rate can be obtained through banks, foreign exchange trading platforms or financial **. Different institutions and platforms may have slightly different exchange rates, so it is recommended that you compare them and choose a more credible machine search structure or platform to check the exchange rate. At the same time, it should be noted that the exchange rate is also affected by various factors such as politics and economics, and may fluctuate, so you need to be cautious when trading foreign exchange.