How to choose the most cost-effective bank for foreign exchange, when the foreign exchange risk is small.

As the European Central Bank began to implement loose monetary policy, the sharp decline of the euro caused a series of chain reactions. In addition to bringing huge benefits to tourism, shopping and other industries, how to exchange foreign exchange in an affordable way has also become a matter of great concern to the public. After visiting a number of banks in Guangzhou recently, the Information Times reporter found that there are not a few citizens who have recently gone to banks to exchange foreign exchange, but the foreign exchange pricing of various banks is also quite different. 10000 euros RMB price difference reached several hundred yuan. How to choose the most cost-effective foreign exchange bank and when the foreign exchange risk is small? This is also a science.

Foreign exchange trend: the euro exchange rate fell to a record low.

In the past year, the RMB appreciated strongly against most other foreign currencies, except for the slight depreciation against the US dollar, Hong Kong dollar, Korean won and Thai baht. Among them, the depreciation of the euro against the RMB is the largest.

Since May 20 14, the euro exchange rate has entered the downward channel. On June 5438+ 10 this year, the European Central Bank announced the opening of quantitative easing (QE), and the exchange rate of the euro continued to fall sharply. The real-time exchange rate of euro against RMB broke "7" for several consecutive days, which was the lowest since the official circulation of 13 new euro. The inter-bank foreign exchange market announced yesterday that the central parity of RMB against Euro was 6.9698 yuan. According to the statistics of the Information Times reporter, since May last year, the euro exchange rate has fallen by nearly 16%.

The fall of the euro means that citizens can exchange less RMB for the equivalent euro. At the beginning of 20 14, it took about 8 yuan RMB to exchange 1 euro, but at the beginning of this year, it only took about 7 yuan RMB to exchange 1 euro. If the time is longer, the highest exchange rate of RMB against the euro in 2003 exceeded 10, and now it has fallen below 7, which means that the cost of converting into euros has been reduced by about 30%.

For European investment immigrants, it is also a rare opportunity for the euro to fall to around "7". Not only the total investment will be greatly reduced, but also the financing cost will be greatly reduced. Take Portuguese and Spanish investment immigrants as an example, the investment of 500,000 euros was about 4 million RMB at the beginning of 20 14; Now it only needs about 3.5 million RMB. In other words, the immigration threshold has dropped by about 500,000 RMB.

Exchange site: public exchange enthusiasm is high.

In recent years, outbound tourism has been heating up year by year, especially in France, Italy and Switzerland, which are the classic routes of European tourism. There are many business districts here, and all kinds of internationally renowned brands and luxury brands are gathered, and the discounts are relatively large, especially for China tourists.

The plunge in the euro further stimulated the citizens' enthusiasm for outbound travel. Miss Wang, a white-collar worker, calculated an account for the Information Times reporter. She bought a handbag of a certain brand in France at the end of 65438+ 10 last year. According to last year's exchange rate, the tax refund is 28,400 yuan. Now she only needs to spend 24,200 yuan to save 4,200 yuan. "The price of this bag in China has exceeded 40,000 yuan, so if you buy a bag, you can save16,000 yuan, which is enough for me to have a good time." After visiting various travel agencies in Guangzhou recently, the Information Times reporter found that France, Italy and Switzerland are still hot spots for traveling in Europe, with prices ranging from 13000 to 15000 yuan, slightly lower than in previous years.

In this context, the public's enthusiasm for foreign exchange is also rising. After visiting a number of banks in Guangzhou recently, the Information Times reporter found that there are not a few citizens who have recently changed money at banks. The lobby manager of a bank on Tianhe East Road said that as the Spring Festival approaches, many citizens have plans to travel abroad, and they probably need to receive more than a dozen customers who come to exchange money every day. Currency is mainly concentrated in some popular tourist areas, such as euro, US dollar, Hong Kong dollar and Thai baht. And the number is mostly around 20,000 yuan.

Reporter's investigation: The same difference of 10,000 euros, several hundred yuan.

However, after investigating the exchange rates of banks including Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, HSBC, Bank of Communications and China Merchants Bank, the Information Times reporter found that the differences of euro exchange rates among different banks are quite large.

Take the selling price of euro cash of major banks at 6: 30 yesterday afternoon as an example. HSBC 7.09 18, China Bank 7.0677, Industrial and Commercial Bank 7.07 1 1, Agricultural Bank 7.0743, China Construction Bank 7.0782, Bank of Communications 7.0704, China Merchants Bank 7.0762 (. The biggest difference is between HSBC and Bank of China. The selling price of cash is 7.09 18 in HSBC and 7.0677 in China Bank. This means that if citizens need to exchange 1 10,000 euros, it will cost 24 1 yuan less at China Bank than at HSBC.

The same is true for changing dollars. Among the seven banks, the cash selling price of Agricultural Bank is 6.2555, ranking first. China Construction Bank ranked second with 6.2547, Industrial and Commercial Bank of China ranked third with 6.254 1, China Merchants Bank and Bank of Communications with 6.2535 and 6.2534 respectively, and HSBC and Bank of China ranked last with 6.2503 and 6.2530 respectively. From this point of view, if citizens exchange 1 ten thousand dollars, the difference between the highest and lowest is 25 yuan. Among them, it is the most affordable to exchange US dollars in China Bank, with RMB 625.3 million convertible 1 10,000 US dollars.

If China dollar is taken as an example, among the seven banks, Agricultural Bank ranks the highest with 0.8067, while banks rank the bottom with 0.8062. This means that it is the most cost-effective for citizens to exchange Hong Kong dollars at China Bank, and the least cost-effective at Agricultural Bank.

Information Times reporters observed the exchange rate trends of banks in recent days, and found that the foreign exchange rankings of different banks often change, but overall, it is the most cost-effective to exchange foreign exchange at China Bank most of the time.

Liu Xinliang, a foreign exchange analyst of a large state-owned bank, told the Information Times reporter that the listing price of foreign exchange will closely follow the changes in the international foreign exchange market, but at the same time, the operating cost of the bank's funds in the international foreign exchange market will be considered, so the listing price will be different.

"In March last year, the central bank announced that it would expand the fluctuation range of RMB against the US dollar in the foreign exchange market from 1% to 2%, and the market's influence on foreign exchange prices was significantly enhanced, which also led to the widening of inter-bank foreign exchange pricing differences. Now the central bank will announce a benchmark price every day, and banks can float the exchange rate within the prescribed proportion, but the quotation implies their own operating costs. " Liu Xinliang said that, generally speaking, in the case of small exchange rate fluctuations, the difference in bank exchange rate pricing is relatively small; However, if there is a sharp rise and fall of foreign exchange in a period of time, the difference in foreign exchange pricing between banks will also be amplified.

Low exchange rate batch exchange

Considering the volatility of foreign exchange, Liu Xinliang suggested that citizens should exchange it in batches. "Because the prospect of foreign exchange is still uncertain, it is not recommended for citizens to exchange foreign exchange at one time for a long time in advance. They can choose to exchange foreign exchange in batches when the exchange rate is low to reduce costs."

Mr. Zhang, the lobby manager of a business department in Haizhu District of China Merchants Bank, also told the Information Times reporter that for ordinary people, how much to exchange is the best way to avoid foreign exchange risks. "The bank's foreign exchange rate is constantly changing, and it is best for customers who need to study abroad to exchange foreign exchange in moderation. Choose the right time to intervene on dips or buy in installments to reduce the cost of studying abroad due to exchange rate changes. "

You can choose the bank's "foreign exchange purchase and fixed investment" business

The Information Times noted that many banks have also launched regular foreign exchange purchase services. If China Merchants Bank launches "foreign exchange purchase and fixed investment" business in the online banking channel, customers can freely set the fixed investment frequency, including one week, two weeks, three weeks, four weeks or January, two months, March and April, and set the amount of foreign exchange purchased in each period and the purchase summary period. The lower limit of each purchase is 100 yuan (Japanese yen is 10000 yuan), and the upper limit of each purchase cannot exceed the equivalent of $25,000. At the same time, the total amount of foreign exchange purchased each year does not exceed the equivalent of $50,000.

Everbright Bank's "Personal Intelligent Settlement and Sale of Foreign Exchange" can also provide regular and fixed foreign exchange purchase settlement services for individual customers. The currencies support 8 currencies: US dollar, Euro, British pound, Canadian dollar, Australian dollar, Swiss franc, Hong Kong dollar and Japanese yen. Customers need to sign a contract at Everbright outlets first, and set a fixed investment every week or every two weeks, with the shortest signing period of 10 and the longest signing period of100; Monthly or quarterly fixed investment, minimum 10 contract, maximum 20 contract.

The exchange rate fluctuated the least in the morning.

Mr. Zhang also reminded that when buying foreign exchange, citizens should not only pay attention to the choice of banks, but also pay attention to the timing. Because you buy foreign exchange at different times, sometimes the difference is really big, especially for foreign currencies with large fluctuations. Generally speaking, the fluctuation of the foreign exchange market is the smallest in the morning, so citizens can choose to buy foreign exchange in the morning instead of buying foreign exchange at night when the market fluctuates greatly.

At the same time, the handling fee for citizens to exchange foreign exchange through study abroad accounts or accounts opened in designated countries and regions can be reduced from 0. 1% to 0.05%.

If the demand is large, try account foreign exchange.

What should citizens do if their foreign exchange quota is large? Because individual customers are limited by the annual limit of $50,000 per person by SAFE, sometimes they can't buy large amounts of foreign exchange when they see a very suitable exchange rate. Mr. Zhang said that at this time, it is advisable to try to purchase foreign exchange in RMB when the exchange rate is suitable, and the funds are kept in the account in the form of bookkeeping, which does not occupy the foreign exchange quota, and then actually purchase foreign exchange when the money is needed. This is very cost-effective for customers who have overseas students and need to purchase a large amount of foreign exchange.

"In addition, if citizens have a large amount of foreign exchange, it is best to make an appointment with the bank in advance, especially some less commonly used currencies. General banks require an appointment two to three days in advance. If there are specific requirements for the face value of foreign currency, it is best to make an appointment in advance, which is more secure. "

It is not cost-effective to buy foreign exchange wealth management products.

Some parents of overseas students want to buy foreign exchange wealth management products to preserve and increase their value, but Mr. Zhang said that in this year's international situation, unless they buy US dollars for wealth management, other foreign currency products will face greater downside risks, and it is difficult for foreign currency wealth management income to stabilize the risk of exchange rate decline.