In practical applications, there are many types of exchange rates. Today, LTG Goldrock will share with you from different perspectives as the following three categories ~
1. Legal exchange rate and market exchange rate
According to whether foreign exchange is divided by government financial management authorities, the exchange rate can be divided into statutory exchange rates and market exchange rates.
The statutory exchange rate, also known as the official exchange rate, refers to the exchange rate that the national monetary financial management authorities determined and announced the local currency in the form of legal form. Therefore, the official foreign exchange transactions are based on the statutory exchange rate.Under the gold -standard system, the issuance of currency is based on gold, and the currency in circulation is made of gold coins made of a certain weight and color gold.The value of the monetary unit is the weight of the gold contained in the coin.The statutory exchange rate is determined by the ratio of two currencies.Under the non -cashless banknote system, the gold content of the banknotes is nominal.The legal exchange rate of currency is no longer determined by the gold content of the currency, but is determined by the nominal value of the currency.The legal exchange rate is the price of official trading foreign exchange.
Market exchange rate refers to the actual exchange rate of the trading of trading in the foreign exchange market.Market exchange rate is a real exchange rate in the foreign exchange market. It fluctuates with the changes in market supply and demand relationships and is adjusted by market mechanisms.In countries that implement foreign exchange management, foreign exchange management authorities will use various means to intervene in market exchange rates, so that they will not deviate from legal exchange rates.In countries without foreign exchange control or loose foreign exchange control, there are free foreign exchange trading markets. The market exchange rate will fluctuate with the remains of foreign exchange. The foreign exchange trading market of the free foreign exchange trading market is generally carried out according to market exchange rates. In countries with strict foreign exchange control,There are often black market exchange rates that are much higher than the price of statutory exchange rates.
2. Trade exchange rate and financial exchange rate
Depending on the nature and use of foreign exchange funds, the exchange rate can be divided into trade exchange rates and financial exchange rates.
The trade exchange rate refers to the exchange rate used in order to promote the development of the country's export trade and improve the status of international revenue and expenditure.It is the exchange rate used by import and export trade and its subordinate expenses.Trade exchange rate is an official exchange rate.For some countries with foreign exchange control, the purchase of foreign exchange income, the purchase of foreign exchange required for imports, and the income and expenditures of the transportation expenses, commissions, post and telecommunications fees and banking fees incurred by import and export trade separately stipulate differently.Settlement rates; some countries stipulate different exchange rates on trade and non -trade revenue and expenditure.
Financial exchange rates, also known as non -trade exchange rates, refer to the exchange rate used by non -trade exchanges to buy and sell foreign exchange, and is mainly used for non -trade revenue and expenditure such as capital circulation and tourism.The scope of financial exchange rates is wide, including the income and expenditure of various labor services such as capital input and output, transportation, ports, insurance, and communications, as well as the fees of the embassy, advertising fee, patent fee, bank fees, etc.The income and expenditure also includes revenue and expenditures in overseas Chinese exchange, annuity, gifts, and intergovernmental economic military assistance, and war compensation.
3. Single exchange rate and diversified exchange rate
According to the different scope of the exchange rate, the exchange rate can be divided into a single exchange rate and a diversified exchange rate.
A single exchange rate means that one country only stipulates one exchange rate.In countries that implement a single exchange rate, they do not distinguish between trade and non -trade foreign exchange revenue and expenditure, and they all conduct foreign exchange trading at a exchange rate.In countries with loose foreign exchange control and good international revenue and expenditure, single exchange rates are usually implemented.
The multi -exchange rate refers to the exchange rate of two or more exchange rates on the trading of the local currency and the other currency.Monetary administrative authorities implement different exchange rates on trade and non -trade foreign exchange trading.In some countries that implement foreign exchange control, according to the different nature of import and export products and non -trade revenue and expenditures, the government has stipulated that multiple import and export exchange rates and non -trade exchange rates are respectively.The import of necessities, the export of suppressing the essentials, encouraging exports of non -essentials, restricting other foreign exchange revenue and expenditures of non -necessities, and supporting a specific foreign exchange expenditure.
