Foreign exchange control: Basic Methods and their functions
12 June 2023
Foreign exchange control is a policy instrument used by the government or central bank of a country or region to interfere or control the foreign exchange market. This control may include setting exchange rate levels, setting restrictions on foreign exchange trading and holdings, and restrictions on capital flows.
The currency exchange rate breaks the 7 and brings short-term export business benefits and long-term needs for stability.
24 May 2023
Data from China Foreign Exchange Trading Center showed that on May 22, the shore closing price of the RMB-USD exchange rate was 7.0304 yuan, down 69 basis points from the previous trading day. Since the first breakthrough of the 7 on May 17, the RMB-USD exchange rate has fallen more than 0.9% in just a few trading days.
Which banks are at risk of receiving foreign exchange for export to Russia?
25 April 2023
The Russian banks currently on the list are listed below, and it is recommended to be careful in receiving the money paid by these banks to our banks so that the final amount cannot be reached. If relevant information is found to involve the concerns listed in the SDN list, export companies should take timely measures, such as changing shipping companies or freight agents, changing banks, changing payment methods, changing transport routes, etc., as much as possible.
Collection, a commonly used payment method in international trade
7 April 2023
Trusteeship is a common form of payment used in international trade, refers to the exporter entrusting the goods and related documents to the bank to process, the bank in the capacity of an agent to collect the buyers goods, and to deliver the documents or receive payment according to the contract requirements.
Common payment method in international trade - letter of credit
7 April 2023
A letter of credit (L / C) is a common payment method in international trade, and is a way for banks to guarantee the buyers and sellers by opening a credit card to protect the rights and interests of both parties under the commission of the buyers and sellers.
The exchange rate is an important concept in international trade. How much do you know about it?
6 April 2023
The exchange rate refers to the exchange rate of the currency of the country that costs foreign currency, i.e. the ratio of one currency exchanging another currency. In international trade and finance, the exchange rate is a very important concept that affects the cost of import and export of enterprises and international payments.
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