It is the abbreviation of foreign exchange settlement, which is divided into two cases: personal settlement and corporate settlement, both of which must be handled in the bank.
Refers to the behavior that the owner of foreign exchange income sells his foreign exchange income to the designated foreign exchange bank, and the designated foreign exchange bank pays the equivalent local currency at a certain exchange rate. There are many forms of foreign exchange settlement, such as compulsory foreign exchange settlement, willingness foreign exchange settlement and quota foreign exchange settlement.
More generally speaking, it is to sell your foreign exchange to the bank, and the bank will give you RMB.
Enterprises can settle foreign exchange, and banks can add some foreign exchange.
The bonus point is generally the forward settlement and sale of foreign exchange. The bonus points are based on the middle price of safety listing on that day, and+120 is divided into +0.2 based on the middle price of listing. Here, a point =0.0 1 corresponding 100 currency units. For example, the central parity of the US dollar is 682, and+120 points means+1.2 on the basis of 682, not on the basis of 6.82.
What do you mean by settlement?
The so-called settlement of foreign exchange, in layman's terms, is through the export of goods, services, technology and so on. The payee collects payment for goods, labor service fees and technology transfer fees. In the form of foreign currency, and according to the provisions of the state administration of foreign exchange, the bank converts the above foreign currency income into RMB and pays it to the payee according to law-this act of converting foreign currency into RMB according to law is called "settlement of foreign exchange".
What does bank settlement mean?
That is, the enterprise sells the foreign exchange income to the designated foreign exchange bank at the exchange rate of the day, and the bank converts it into RMB after receiving the foreign exchange. If you need this service and want to pay less, you can find Pan Asia Capital to cooperate.
What's the difference between collection and settlement?
Receipt of foreign exchange means receipt of foreign exchange, and settlement of foreign exchange means settlement of foreign exchange received in local currency. China is a country with foreign exchange control, and the foreign exchange received must be forcibly converted into RMB, and then purchased from banks when foreign exchange is needed.
What is the meaning of personal foreign exchange account settlement?
The concept of foreign exchange settlement means that the foreign exchange payee sells foreign exchange to the bank, and the bank pays the equivalent RMB according to the exchange rate of foreign currency. Any foreign exchange income under the current account that can retain cash without regulations or approval must be settled; Any foreign exchange income from capital account that has not been settled or approved shall not be settled. The foreign exchange income of domestic institutions must distinguish between current account and capital account; According to the different nature of foreign exchange income, banks should go through the formalities of settlement or entry respectively. Any foreign exchange income that cannot be proved to belong to the current account shall be handled in accordance with the relevant provisions on the settlement of foreign exchange under capital account. 2. If the settlement of foreign exchange requires domestic units to obtain the following foreign exchange income, they must settle foreign exchange and cannot leave foreign exchange. 1. Export or receive foreign exchange from transit goods and other transactions. Among them, the trade export foreign exchange settled by documentary letter of credit/guarantee or documentary collection can be settled by valid commercial documents, and the trade export foreign exchange settled by remittance can be settled by export receipt verification form. 2. Foreign exchange won in international bidding under overseas loans. 3. Foreign exchange income of domestic duty-free goods under customs supervision. 4. Foreign exchange from goods or services provided by transportation (including various modes of transportation), ports (including airports), post and telecommunications (excluding international remittances), advertising, consulting, exhibition, consignment, maintenance and other industries and various agency businesses. 5. Various foreign exchange fees and fines collected by administrative and judicial organs. 6. Intangible assets such as land use rights, copyrights, trademarks, patents, non-patented technologies and goodwill are transferred to foreign exchange. However, if the intangible assets are owned by individuals, they may not be settled. 7. Foreign exchange profits repatriated by overseas investment enterprises, foreign exchange recovered under foreign economic assistance and foreign exchange income of overseas assets. 8. Foreign exchange from foreign creditor's rights, returned foreign exchange deposits, etc. 9. Foreign exchange from leasing real estate and other foreign exchange assets. 10. Foreign exchange income of insurance institutions accepting foreign exchange insurance. 1 1. Net income from foreign exchange business of financial institutions with foreign exchange business licenses. 12. Foreign exchange of foreign donations, grants and aid income. 13. Other foreign exchange to be settled as stipulated by the State Administration of Foreign Exchange. 14. The foreign exchange income of foreign-invested enterprises under the current account can be retained within the maximum amount approved by the foreign exchange bureau, and the excess should be sold to designated foreign exchange banks or adjusted through foreign exchange adjustment centers.
What is the price of foreign exchange settlement?
Settlement of foreign exchange means that customers sell their foreign exchange to banks. In this transaction, the bank is the buyer of foreign currency, so the buying exchange rate is used. (From the bank's point of view, the exchange rate can be divided into buying exchange rate and selling exchange rate). Therefore, if US dollars remitted from foreign banks need to be converted into RMB at home, they should be settled according to the spot purchase price of US dollars.
The so-called buying price or selling price is from the perspective of banks. Banks pay foreign exchange income in RMB, that is, buy foreign exchange and execute the purchase price. When a bank pays RMB for foreign exchange, it sells foreign exchange and executes the selling price. If the settlement of foreign exchange is not cash but foreign exchange cash, the cash purchase price shall be implemented. The middle price is only a symbolic price, which is used for enterprise bookkeeping, etc. This price is not used in the actual settlement of foreign exchange.
What do you mean by settlement of funds?
The registered capital of a foreign-invested enterprise is usually an account opened by foreign investors with foreign exchange remitted to the enterprise, and this part of the capital needs to be converted into RMB for domestic use, which is called capital settlement.
What does it mean to settle foreign exchange in dollars?
Settlement of foreign exchange is the abbreviation of exchange settlement/foreign exchange settlement, which is divided into two situations: individual settlement and enterprise settlement. It must be handled in a bank or online bank. At present, many banks in China can handle it.
The settlement of foreign exchange in US dollars refers to the settlement in US dollars.
What do you mean by settlement and sale of foreign exchange?
Settlement of foreign exchange refers to the behavior that the owner of foreign exchange income sells his foreign exchange income to the designated foreign exchange bank, and the designated foreign exchange bank pays the equivalent local currency at a certain exchange rate. There are many forms of foreign exchange settlement, such as compulsory foreign exchange settlement, willingness foreign exchange settlement and quota foreign exchange settlement. Compulsory foreign exchange settlement means that all foreign exchange income must be sold to designated foreign exchange banks, and foreign exchange is not allowed to be retained; Willingness to settle foreign exchange means that foreign exchange income can be sold to designated foreign exchange banks or left in foreign exchange accounts, and the owner of foreign exchange income decides whether to settle foreign exchange; The limit of foreign exchange settlement means that foreign exchange income cannot be settled within the quota approved by the state, and those exceeding the limit must be sold to designated foreign exchange banks. At present, China mainly implements the compulsory settlement system, and some enterprises are approved to implement the quota settlement system; Implement a system of willing foreign exchange settlement for domestic residents.
Sale of foreign exchange: designated foreign exchange banks sell foreign exchange to foreign exchange users and charge the equivalent RMB at the RMB exchange rate on the transaction day.