Go to the bank and apply as required. The details are as follows.

Conversion method (reference material)

For those new to the foreign exchange trading market, it is difficult to understand the price of one currency relative to another. However, this becomes easy to understand when we exchange currencies. Let us give a very simple example to illustrate. Just like one pound can buy a bottle of Coca-Cola. How does a trader know that 1 pound is equal to 1.5 US dollars, 10 yuan RMB or 1.2 euros.

To give a simple example, the exchange rate of British pounds to U.S. dollars is 1:1.5. We can exchange 100 British pounds for 150 U.S. dollars through a trader. A few days later, the full-year GDP results announced by the United States were better than expected. The exchange rate becomes 1:1.4, and then we exchange 150 US dollars for pounds, we will get 107 pounds, so there will be a profit of 7 pounds.

This is a very simple core of the foreign exchange market. When traders talk about buying or selling goods, they are talking about exchanging one currency for another and making a profit from it.

Exchange process:

1. Bring your original ID card and original passport.

2. Fill in the exchange form according to the bank staff and select the exchange ratio.

3. Redemption completed.

Many online channels such as Bank of China’s mobile banking and online banking support foreign currency exchange, cash reservation and other services, and can also be handled by yourself through online channels. The business hours of online foreign currency exchange are from 7:00 to 23:00 every day, without restrictions on weekends or holidays. Extended information

The foreign exchange quotations quoted by banking institutions are generally divided into four types:

Foreign exchange buying (i.e. spot foreign exchange buying, the same below), foreign exchange selling, and banknote buying. When selling banknotes, all four values ??are different. The buying price of foreign exchange (banknotes) is the price at which the bank buys foreign exchange (banknotes) from you, and the selling price of foreign exchange (banknotes) is the price at which the bank sells foreign exchange (banknotes).

The RMB exchanged for cash is less than that for cash. The main reason is due to the different operating costs of banks. When you sell spot exchange (a foreign exchange payment instrument, equivalent to a foreign exchange deposit) to a bank, you are selling the foreign exchange deposits of foreign banks to the bank.

From the moment the foreign exchange deposit is sold to the bank, it is transferred to the bank's name, and the bank can immediately calculate and collect interest.

Sell cash to a bank. Since foreign currency cash cannot be circulated and used in the local area of ??transaction, the cash needs to be transported abroad. Not only can the bank not immediately obtain deposits and interest, but it also has to pay fees to keep the cash. .

Baidu Encyclopedia-Foreign Exchange