Foreign exchange, called foreign currency in English, is a creditor's right held by monetary management organs (central bank, monetary management institution, foreign exchange stabilization fund and Ministry of Finance) in the form of bank deposits, treasury bonds and long-term and short-term government securities. Can be used when the balance of payments is in deficit. Including foreign currency, foreign currency deposits, foreign currency securities (treasury bonds, treasury bonds, corporate bonds, stocks, etc.). ) and foreign currency payment vouchers (bills, bank deposit vouchers, postal savings vouchers, etc.). ).
Valuable securities refer to vouchers with par value, which are used to prove that the holder or a specific subject designated by the securities has ownership or creditor's rights over specific property. Portfolio is a form of virtual capital, which has no value in itself, but has a price. According to the different nature of property rights, marketable securities can be divided into three categories: commodity securities, currency securities and capital security.
Securities is the product of the development of commodity economy and socialized mass production, and its meaning is very extensive. Securities in the legal sense refer to all kinds of legal documents that record and show certain rights, which prove that the holder has the right to obtain due rights according to the contents recorded in the securities he holds. Generally speaking, securities refer to written documents used to prove or create rights, indicating that the holder of the securities or a third party has the right to obtain specific rights and interests of the securities or to prove that it has acted. Securities are marked with par value, which proves that the holder has the right to obtain certain income on schedule and can be freely transferred and traded. This kind of securities itself has no value, but because it represents a certain amount of property rights, the holder can directly obtain a certain amount of goods, currency, interest, dividends and other benefits, so it can be bought, sold and circulated in the securities market, and objectively has a transaction price. There are many factors that affect the price of securities, mainly expected returns and market interest rates. Therefore, the price of securities is actually capitalized income. Therefore, the value in the value here is an expected value, not an actual value. Since it seems to be expected, there are risks and variables.
Non-commodity futures refer to futures other than commodity futures and precious metal futures, such as foreign exchange futures. Value-added tax is levied on commodity futures transactions of financial institutions, and business tax is not levied. From June 5438+1 October1day, 2009, non-financial institutions are required to pay business tax when transferring financial commodities.