Middle price = (spot foreign exchange buying price + spot foreign exchange selling price)/2

The benchmark price is a middle price announced by the People's Bank of China. Other commercial banks can use the benchmark price based on the benchmark price. On the market, set your own buying and selling prices according to the floating range prescribed by the People's Bank of China.

For the Bank of China converted price, the central bank only announces the benchmark price of some foreign currencies. If there is no benchmark price, then the Bank of China will calculate a benchmark price by itself, which is called the Bank of China converted price, which is equivalent to a basic price