Foreign exchange refers to the exchange of foreign currencies by individuals at various commercial banks approved by the state to operate foreign exchange business.
It is illegal to exchange foreign currencies outside designated banks and legal points.
The five major banks in China can exchange foreign currencies. The five major state-owned banks include the Industrial and Commercial Bank of China, China Construction Bank, Bank of China, Agricultural Bank of China and Bank of Communications. All these banks have opened foreign currency exchange services.
2. Some joint-stock banks can also exchange foreign currencies, such as China Merchants Bank, China Citic Bank, Industrial Bank, Shanghai Pudong Development Bank and so on.
3. Most foreign banks, such as HSBC and Standard Chartered Bank, can also exchange foreign currencies.
The main types of foreign currencies convertible in China include: ¡¢¡¢¡¢¡¢¡¢ Swedish krona, Norwegian krona, Canadian dollar, Australian dollar, Macau dollar, Philippine peso, Thai baht, Korean dollar, etc.
In THE 1950S AND 1960S THE OLD coins OF Peru, Chile AND SO on Latin American COUNTRIES ARE NOT CONVERTIBLE IN OUR COUNTRY.
In our daily life, we should be especially vigilant that some lawbreakers will sell some old foreign currencies that cannot be used in the market. We must not buy them so as not to be fooled.
