A China resident wants to travel to Europe and buy 1000 euros in cash from China Industrial and Commercial Bank.

It should be settled at the bank's cash selling price on that day.

Bank quotations are generally divided into cash buying price, cash buying price, cash selling price and settlement price.

The settlement price is generally the normal exchange rate. Other prices are different from the exchange rate. Generally speaking, the cash buying price will be lower than the exchange rate, the cash buying price will be lower than the cash buying price, and the cash selling price will be higher than the exchange rate. Take the euro as an example, the exchange rate (settlement price, quotation) is 950.33, the cash purchase price is 946.53, the cash purchase price is 9 16.59, and the cash selling price is 954. 13.

The prices mentioned here are differentiated by bank transactions. For example, the buying price of cash is the price at which the bank buys your cash, and the selling price of cash is the price at which the bank sells your cash. ? Cash remittance refers to remittance from abroad to your account and direct sale of foreign exchange to the bank in the form of remittance (no cash withdrawal).

The practice of banks is to earn the difference.