Current Location:Home||Foreign currency exchange

Foreign currency exchange

{}Posted in2023/2/24 20:26:16 | 7Browse

What is cashback forexst forex rebate company rebatesforexbroker fxrebatecentral Foreign currency exchange refers to the conversion of foreign currency bestforexrebatecompanyto RMB, or foreign currency into another foreign currency, or RMB into foreign currency Depending on the entity of foreign currency exchange, it can be divided into broad forexrebatecommission narrow concepts Foreign currency exchange in the narrow sense refers exclusively to the exchange of foreign currency notes; in the broad sense, it includes not only the exchange of foreign currency notes, but also travelers checks, travelers letters of credit, credit cards and foreign currency purchase. According to national regulations, the following 19 types of foreign currency banknotes can be exchanged in Chinese banks or designated institutions: USD, GBP, FRF, DM, JPY, AUD, SGD, CAD, FIM, ATS, BEF, CHF, HKD, DKK, NLG, NOK, SEK, TL, and RON. Types of foreign currency exchange Foreign currency exchange can be divided into cash to RMB, cash to RMB, and when the refund is made, it can be divided into RMB to foreign currency cash, RMB to foreign currency cash remittance out of foreign currency exchange procedures (1) The customer fills in the "application form for selling foreign currency", and the staff in charge asks the customer about the exchange amount and counts and checks. (2) The operator determines that the currency requested by the customer is freely convertible, identifies the currency as non-counterfeit, and issues the customer a matching slip (3) The operator writes the "Buyers Foreign Currency Exchange Water Slip" (4) After the bank has reviewed and verified that the cash is correct, the bank hands the customer the RMB cash along with the water slip, takes back the matching slip and asks the customer to count it in person  (The actual amount of the money is not only the amount of the money, but also the amount of the money. In addition, you should have the common sense to identify the real and counterfeit banknotes to prevent the collection of counterfeit banknotes or waste money out of circulation. First of all, you should identify the main content of each countrys banknotes. The companys main business is to provide a wide range of products and services to the public. The foreign exchange banks that operate foreign exchange business can handle the collection and exchange business with the ID card of the holder, and must adhere to the principle of "receive first and pay later" when receiving foreign currency from customers. The first is to identify the authenticity and count the number of qualified foreign currency, and then check with the customer, according to the same day the purchase price of cash to pay, and fill out the foreign currency exchange water sheet (ExchangeMemo) into the foreign currency water sheet in quadruplicate, the first for the exchange into the foreign currency water sheet, by the exchange into the bank stamped with the business seal to the holder to receive; the second for the foreign exchange trading account foreign currency credit summons; the third for the foreign exchange trading account The fourth one is the foreign exchange trading statistics card, which is kept for inspection only. 2. exchange out foreign currency Generally, foreigners who have visa to leave the country and Chinese who are approved to leave the country should apply to the bank for purchasing foreign currency according to the relevant regulations, and then apply for exchange after the banks examination and approval. When foreign tourists want to leave the country, they can request to exchange the unused RMB back to foreign currency, but they must present their passports and their own passports since the date of exchange. The amount to be exchanged is limited to the remainder of the amount spent in the country, and cannot exceed 50% of the amount of the original water bill. After the exchange, the original water bill should be collected and filed as the original certificate of the foreign currency exchange. The foreign currency exchange water bill is also in four copies, the first one is the foreign currency exchange water bill, which will be filled in the relevant column by the cashier. The second copy is a credit summons for foreign currency trading account in RMB; the third copy is a debit summons for foreign currency trading account in foreign currency; the fourth copy is a statistical card for foreign currency trading, which is kept for inspection (1) The bank manager reviews whether the foreign currency received belongs to the goods that can be exchanged by the Bank and whether they are in circulation, and confirms the currency and amount to identify the authenticity (2) The manager fills out the "(3) Calculation of the amount of foreign currency to be cashed out: Amount of foreign currency to be cashed in × purchase price of foreign currency notes = RMB amount Amount of RMB / selling price of foreign currency to be cashed out = amount of foreign currency to be cashed out (4) Checker to check the count, identify the authenticity, receive the foreign currency to be cashed in and pay the foreign currency to be cashed out. Valid identity documents, fill out the foreign exchange water bill, delivery of cash can be handled valid identity documents include: my identity card (Chinese citizens household register (Chinese citizens under the age of sixteen), military identity documents (Chinese Peoples Liberation Army), armed police identity documents (Chinese Peoples Armed Police), Chinese Hong Kong and Macao residents to and from the Mainland (Chinese Hong Kong and Macao residents), Chinese Taiwan residents to and from the Mainland Pass ( Foreign customers and Chinese compatriots from Hong Kong, Macao and Taiwan can use their original bank foreign exchange water slips and valid documents that are consistent with the water slips to apply for foreign exchange refunds when they leave the country within a specified period of time. "(2) The amount of foreign currency actually purchased or sold to the bank and the amount of RMB converted at the market exchange rate selected by the enterprise are recorded in the relevant accounts (3) The difference between the above two items is recorded as "exchange gain or loss" and charged to current expense (4) Foreign currency exchange operations are recognized in daily accounting on a case-by-case basis The formation of foreign exchange gains and losses foreign currency exchange business accounting case study [Example 1] an enterprise to RMB as the local currency of account, the use of business as the day of the market exchange rate as the conversion rate February 15 export products, selling price of $ 1,000, the market exchange rate of $ 1 = ¥ 8.00, February 20 received foreign exchange and settlement to the bank, the market exchange rate of $ 1 = ¥ 9.00, the settlement banks dollar Buy price of $ 1 = $ 8.8, the actual receipt of RMB 8800 should be made entries: (1) February 15 export products Debit: accounts receivable ($ 1000 × 8) 8000 Credit: product sales revenue 8000 (2) February 20 receipt Debit: bank deposits ─ (RMB) account 8800 Finance costs 200 Credit: accounts receivable ($ 1000 × 9) 9000    "accounts receivable" account due to changes in translation exchange rate and the formation of exchange gains and losses will be adjusted at the end of the period [Example 2] an enterprise to RMB as the local currency of account, using the market exchange rate on the date of business as the translation rate January 20 for the repayment of a long-term loan of $ 10,000 to the bank to buy foreign exchange, the market exchange rate on that day For $ 1 = $ 8, the banks selling price of $ 1 = $ 8.2, the enterprise actually paid RMB 82,000 should be made entries: debit: long-term loans ($ 10,000 × 8) 8800 finance costs 2000 credit: bank deposits ─ (RMB) account 82000 "long-term loans" account due to translation The exchange rate changes and the formation of exchange gains and losses will be adjusted at the end of the period for foreign currency exchange factors The country to determine whether a certain foreign currency can be accepted, the main consideration of two factors: one is the currency issuing country on whether there are restrictions on the entry and exit of national currency; the second is whether this currency in the international financial market can be freely exchanged with the expansion of Chinas international contacts, foreign currency exchange business is also growing, the convertible foreign currency types are also Chinas foreign exchange regulations provide that all foreign currency held by Chinese and foreign institutions or individuals in China shall not be freely circulated in our country, all remittances or carry foreign currency or foreign currency notes, unless otherwise specified, shall be sold or deposited in the foreign exchange business of the bank banks for all foreign currency exchange rate table of foreign currency are accepted by the state for public or private individuals or units The foreign exchange approved by the supply of foreign currency, should be held at the foreign exchange rate of RMB equivalent, to the designated bank to exchange into foreign currency foreigners and overseas Chinese entered the country with a passport or ID card to exchange their foreign currency into RMB for use in the territory, when leaving the country, the unused RMB, the same with a passport or ID card and the original foreign currency exchange water bill, to the designated foreign exchange bank into foreign currency to carry out illegal exchange for foreign currency, to seize the foreign exchange receivable by the state, are It is an illegal exchange of foreign currency. 
Popular Articles
Random Reading