What is the bank's settlement and sale of foreign exchange on behalf of customers?

It is a foreign exchange settlement and sale business conducted by banking institutions on behalf of customers.

There are two kinds of internal settlement and sale of foreign exchange in banks, one is to customers, and the other is to transfer positions to superior banks.

The settlement and sale of foreign exchange on behalf of customers is actually the settlement and sale of foreign exchange to customers, that is, buying or selling foreign exchange from customers, which corresponds to selling foreign exchange to superior banks within banks (originally bought by customers) or buying foreign exchange (needed to be sold to customers). The two transactions are just the opposite. In the end, the outlets that handle business do not keep foreign currency positions, but only earn corresponding RMB income!

I hope it helps you!