What is a Bank Rate?

Exchange quotation , which is the listed exchange rate of a designated foreign exchange bank, is the price set by each bank (referring to the head office, branch and head office's foreign exchange quotations ) based on the RMB market intermediate price announced by the People's Bank of China and international foreign exchange market prices. The buying and selling price between a foreign currency and RMB. This foreign exchange price changes in real time, even if the price is different on the same day.

Exchange rate

Exchange quotation ( exchange quotation ), that is, the exchange exchange quoted price of a designated foreign exchange bank, is the basis of each bank (referring to the head office, branch and head office are the same)

Home country announced by the country's unified foreign exchange management agency

1,

Spot purchase price: The customer sells the foreign currency spot exchange in the account to the bank in exchange for domestic spot exchange. Equivalent to the buyer when the bank, the customer is the seller. For example, if you need to exchange US $ 100 in Renminbi and the exchange rate is 1: 6.3459, the bank needs to pay the customer RMB634.59 in CNY.

Cash purchase price: The customer sells foreign currency cash in hand to the bank in exchange for domestic cash. Equivalent to the buyer when the bank, the customer is the seller. For example, if you need to exchange US $ 100 in Renminbi and the exchange rate of 1: 6.2950 cash, the bank will need to pay customers 629.50 yuan in Renminbi.

Selling price: The bank's foreign currency is sold in cash, so there is only one selling price. Customers can exchange cash for payment after paying the exchange fee.

Intermediate price: Also known as the benchmark price, it refers to the average price of the buying and selling prices of a country's currency against another currency. The exchange rate of the day.

Cash: Cash refers to real money

Cash transfer: Cash transfer refers to the money transferred to your account through a foreign bank by telegraphic transfer, money order, etc. In simple terms, it is a virtual book number.

The formation of bank foreign exchange price and the floating range of exchange rate in the inter-bank foreign exchange market

There are straight and

The first is to vigorously develop the foreign exchange market and fully realize the market price discovery function. In order to further advance the price discovery function of the foreign exchange market to "based on market supply and demand, we need to reform from several aspects to promote the smooth development of the domestic foreign exchange trading market. Gradually expand the floating ratio of foreign exchange settlement and sales turnover positions, and Willingness to settle foreign exchange transactions; increase the currencies of the British pound, Australian dollar, Singapore dollar and Swiss franc on the basis of US dollars, Hong Kong dollars, Japanese yen and euros to attract foreign exchange transaction transfers currently conducted in the international foreign exchange market To the domestic foreign exchange market, extend the time of the foreign exchange market to the cut-off time for the bank's foreign exchange settlement and sales business; enrich the variety of foreign exchange transactions, increase foreign currency exchange against currency pairs, gradually develop forward transactions and swap transactions, and introduce market making Business system.

The second is to further delist power management, reasonably guide, and close to market needs. Gradually expand the authority of banks to make independent pricing on the basis of the middle price, in order to fully mobilize the bank's enthusiasm for fund management, strengthen the inter-bank quotation competition, and allow banks to publicly announce the listed price to implement time-based rolling quotes to provide customers with foreign exchange settlement and sales Better management of the foreign exchange price of participating in the Soviet Union should gradually give way to the market. The focus of supervision should be on the formulation of business systems and the maintenance of order.

The trend of foreign exchange price ^[3] depends on the analysis of technical indicators. It is a quantitative analysis method based on certain mathematical statistics methods and using some complicated calculation formulas to judge the exchange rate trend. At present, there are numerous technical indicators in the foreign exchange market. For example, Relative Strength Index (RSI), Stochastic Index (KD), Trend Index (DMI), Smooth Similarity and Average (MACD), Energy Wave (OBV), Psychological Line, Deviation Rate, etc. These are very well-known technical indicators, and they are prosperous in the application of the stock market. Moreover, over time, new technical indicators continue to emerge ^[3] .