Foreign exchange settlement business is from the customer's point of view, the customer sells his foreign currency to the bank and buys RMB from the bank. That is, customers change foreign currency into RMB.

For example, Lao Yang's son works abroad to earn money. Every once in a while, he will send back $65,438+0,000 to Lao Yang. When Lao Yang deposited the money to $6,543,800+,he took his ID card to the bank and changed the $6,543,800 into RMB. This is foreign exchange settlement.

For the bank, the bank bought the foreign exchange earned by Lao Yang's son and paid Lao Yang RMB.