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the exchange rate is the ratio of the local currency to the foreign currency. If you study finance, you must know
there are two pricing methods for exchange rate: direct pricing method and indirect pricing method
the direct pricing method is expressed by the amount of local currency that can be exchanged for one unit of foreign currency. For example, the exchange rate of RMB to us dollar is generally expressed by the direct pricing method, 1 US dollar = 6.312310 yuan. Indirect pricing method is expressed by the amount of foreign currency that can be exchanged for one unit of local currency
so if there is a difference, it is the difference as above.
the exchange rate is also called "foreign exchange market or exchange rate". The ratio of one currency to another is the price of another currency expressed in one currency. Due to the different names and values of currencies in the world, the exchange rate of one country's currency to that of other countries should be set
exchange rate is the price comparison between two different currencies. According to the evolution of the international monetary system, there are fixed exchange rate and floating exchange rate. It refers to the exchange rate set and announced by the government and can only fluctuate within a certain range< (2) floating exchange rate. It refers to the exchange rate determined by market supply and demand. In principle, a country's currency market has no obligation to maintain the exchange rate level, but it can intervene when necessary< (2) according to the method of setting exchange rate, there are basic exchange rate and arbitrage exchange rate. Each country must choose a certain currency as the main object of comparison when setting the exchange rate, which is called the key currency. According to the comparison between the real value of domestic currency and key currency, the exchange rate is worked out, which is the basic exchange rate. Generally, the US dollar is the most commonly used currency in international payment. All countries regard the US dollar as the main currency to set the exchange rate, and often regard the exchange rate against the US dollar as the basic exchange rate< (2) arbitrage exchange rate. It refers to the exchange rate calculated by countries according to the basic exchange rate against the US dollar, which directly reflects the value ratio between other currencies< (3) according to the angle of foreign exchange trading, there are buying exchange rate, selling exchange rate, intermediate exchange rate and cash exchange rate. Also known as the buying price, that is, the exchange rate used by banks to buy foreign exchange from their peers or customers. When the direct pricing method is adopted, the exchange rate with less foreign currency converted into local currency is the purchase price, while when the indirect pricing method is adopted, the opposite is true< (2) selling rate. Also known as the selling price, that is, the exchange rate used by banks to sell foreign exchange to their peers or customers. When the direct pricing method is adopted, the exchange rate with more foreign currency converted into local currency is the selling price, while when the indirect pricing method is adopted, the time is opposite
there is a price difference between buying and selling. This price difference is the bank's income from buying and selling foreign exchange, which is generally 1% - 5%. The buying and selling rates used by banks in foreign exchange trading are also called inter-bank buying and selling rates, which are actually the buying and selling prices in the foreign exchange market< (3) intermediate exchange rate. It's the average of the bid price and the offer price. The central exchange rate is often used in the news of exchange rate in the Western Ming Dynasty, and the arbitrage rate is also calculated by the central exchange rate of the relevant currency< (4) cash exchange rate. Generally speaking, countries do not allow foreign currency to circulate in their own countries. Only by converting foreign currency into domestic currency can they buy their own goods and services. Therefore, the exchange rate of buying and selling foreign currency notes, that is, the exchange rate of foreign currency notes, is proced. It is reasonable that the exchange rate of cash should be the same as that of foreign exchange. However, e to the need to transport foreign currency cash to various issuing countries, it costs a certain amount of freight and insurance to transport foreign currency cash. Therefore, the exchange rate of banks when receiving foreign currency cash is usually lower than the foreign exchange purchase rate< (4) according to the way of bank foreign exchange payment, there are telegraphic transfer rate, mail transfer rate and bill exchange rate. The telegraphic transfer rate is a kind of exchange rate used by a domestic bank in foreign exchange business to entrust its foreign branch or agent bank to pay the payee by telegram after selling foreign exchange. Because the telegraphic transfer payment is fast, the bank can not occupy the customer's capital position, at the same time, the International Telegraph cost is higher, so the telegraphic transfer exchange rate is higher than the general exchange rate. However, the rapid transfer of funds by telegraphic transfer is concive to accelerating the turnover of international funds, so telegraphic transfer accounts for an overwhelming proportion in foreign exchange transactions
2. The exchange rate of mail transfer is a kind of exchange rate used by the bank to issue the payment entrustment letter and send it to the payee of the bank in the place of payment by letter through the post office. Because it takes a certain time for the letter of payment to be sent by post, the bank can occupy the customer's funds ring this period, so the exchange rate of mail transfer is lower than that of wire transfer< (3) exchange rate. The exchange rate of bill exchange refers to the exchange rate used by a bank when it sells foreign exchange and issues a bill of exchange paid by its foreign branch or agent bank to the remitter, who brings or sends it abroad for withdrawal. Because there is an interval between the selling of foreign exchange and the payment of foreign exchange, banks can occupy the position of customers ring this period, so the exchange rate of bill exchange is generally lower than that of telegraphic transfer. There are short-term and long-term bill exchange, and their exchange rates are also different. Because banks can use customers' funds for a longer time, the long-term exchange rate is lower than the short-term exchange rate< (5) according to the delivery period of foreign exchange transactions, there are spot exchange rate and forward exchange rate. It is also called spot exchange rate, which refers to the exchange rate for delivery on the day of transaction or within two days< (2) forward exchange rate. Forward exchange rate is the exchange rate that the buyer and the seller sign a contract and reach an agreement in advance for delivery in a certain period of time in the future. By the delivery date, the two parties will clear the money according to the exchange rate and amount. Forward foreign exchange trading is a kind of booking transaction, which is caused by the different time that foreign exchange buyers need for foreign exchange funds, and in order to avoid the risk of foreign exchange rate changes. There is a difference between the forward exchange rate and the spot exchange rate. This difference is called forward price difference. There are three situations: premium, discount and parity. Premium means that the forward exchange rate is higher than the spot exchange rate, discount means that the forward exchange rate is lower than the spot exchange rate, and parity means that the two are equal< (6) there are official exchange rate and market exchange rate according to the distinction of foreign exchange management. It refers to the exchange rate published by a state institution (Ministry of finance, central bank or foreign exchange administration). The official exchange rate can be divided into single exchange rate and multiple exchange rate. Multiple exchange rate is a special form of foreign exchange control, which is more than one foreign exchange rate set by a government for its own currency. Its purpose is to encourage exports, restrict imports, and limit the inflow or outflow of capital, so as to improve the balance of payments< (2) market exchange rate. It refers to the actual exchange rate of foreign exchange traded in the free foreign exchange market. In countries with loose foreign exchange management, the officially announced exchange rate often only acts as the central exchange rate, while the actual foreign exchange transactions are concted according to the market exchange rate< (7) according to the business hours of banks, there are opening exchange rate and closing exchange rate. It is also called the opening price. It is the exchange rate used by foreign exchange banks for foreign exchange trading at the beginning of a business day< (2) closing exchange rate. Also known as the closing price, There are two pricing methods for foreign exchange rate:
(1) direct quotation (refer to the "PAYABLE quotation")
(2) indirect quotation (refer to the "receivable quotation")
under the gold standard system, The basis of exchange rate determination is the gold point. Under the condition of paper currency circulation, the basis of exchange rate determination is purchasing power par. The factors influencing exchange rate change are as follows:
(1) balance of payments. If a country's balance of payments is in surplus, its currency exchange rate will rise; If it is a deficit, the exchange rate of the country's currency will fall< (2) inflation. If the inflation rate is high, the exchange rate of the country's currency is low< (3) interest rate. If a country's interest rate rises, the exchange rate is high< (4) economic growth rate. If a country has a high economic growth rate, its currency exchange rate is high< (5) fiscal deficit. If a country has a huge budget deficit, its currency exchange rate will fall< (6) foreign exchange reserves. If a country's foreign exchange reserves are high, its currency exchange rate will rise.
it's 4:30 p.m. and 6:40 p.m
trust Mart terminus --- dongcuiyuan --- Dongxingyuan --- Dongfang garden --- China Insurance Life Insurance --- post and telecommunication building --- He Xian hospital --- Meihua Hotel --- Instrial Road --- traditional Chinese medicine hospital --- Dabei road --- Panyu Hotel --- intersection of Qiaolian middle school --- bus station --- Shiqiao Street office --- Baiyue square --- Danshan bridge --- Danshan village --- daluotang --- left village --- Regal villa --- Yixing Instrial Village--- Fanfa trade city --- Qifu Food Street --- longhui instrial village --- Hanxi intersection --- Zhongcun --- Xiecun --- Shibi intersection --- Wanbao group --- Feilong world --- Mengchong --- Xiangjiang zoo --- Lichun intersection --- Dashi --- Fuli passenger station --- Shangjiao --- Olympic --- Luoxi middle school --- luotaoju --- Rainbow Garden haitangju --- Luocheng club --- Nanpu Bridge South --- Dongxiang Lianfa Instrial Zone --- shuizhekou--- Dongruan --- Nanpu terminal
* * * you can take a bus at longhui to Dongxingyuan station, then walk across Dexing bridge, and the first left turn is Debao garden. It takes about 150 meters to walk.
bus line: Fan 202 road → Metro Line 7 → 301 Road, the whole journey is about 20.7km
1. Walk about 190m from Guangda to Guangda station
2. Take fan 202 Road, pass 6 stops, reach the comprehensive commercial South District Station
3. Walk about 180m to the South Station of University Town
4. Take Metro Line 7, pass 5 stops, reach Zhongcun station
5, walk about 550m, Get to Shibi intersection station
6, take bus 301, pass 4 stops, get to Qifu Food Street Station
7, and walk about 710 meters to Qifu new village
bus line: Guangfo Citybus 20 short line, the whole journey is about 5.9 km
1. Walk about 20 meters from Panyu Shiqiao bus station to Shiqiao bus station
2. Take Guangfo Citybus 20 short line, pass 2 stops, and reach Qifu Food Street Station (you can also take Guangfo Citybus 20 line, 301 Road)
3. Walk about 1.6 km to Qifu new village
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