I. What isAgency export,Foreign exchange conversion cost?

The foreign exchange conversion cost of agency export refers to all currency conversion costs incurred when an enterprise completes export foreign exchange collection through an agency, including three core elements:

• The exchange rateDifferential cost: The difference between the banks buying rate and the agencys settlement rate
• Handling fee cost: Agency service fees (usually 0.5% - 1.2%)
• Hidden costs: Bank telegraphic transfer fees, intermediate bank deduction fees, and exchange time - difference losses

II. What is the specific calculation formula for the foreign exchange conversion cost in 2025?

The standard calculation formula is:Foreign exchange conversion cost = (Foreign exchange income × Bank spot buying rate) - (Foreign exchange income × Agency settlement rate) + Handling fees + Bank charges

For example, if an enterprise receives export earnings of USD 100,000:

• The banks spot exchange buying rate on the day is 7.15
• The agency settlement price is 7.10
• Agency fees are 0.8% (USD 800)
• Bank fees are CNY 200
• Total cost = (100,000×7.15)-(100,000×7.10)+800×7.15+200 = 35,700 yuan

III. What factors will affect the foreign exchange conversion cost?

• Exchange rate fluctuation mechanism
  • Under the floating exchange rate system, the daily fluctuation range can reach 0.5%
  • Renminbi in 2025Transboundary PaymentsThe coverage rate of the system (CIPS) has reached 92%
• Differences in settlement methods
  • TT telegraphic transfer saves 0.3%-0.5% of the cost compared with the letter of credit (LC)
  • There is a 1 - 3% exchange rate risk for D/P documents against payment
• Agent Service Terms
  • Step - by - step rate (e.g., 0.6% for amounts over 1 million US dollars)
  • The packaging service (customs declaration + tax rebate + foreign exchange receipt) can reduce the cost by 0.2%

IV. How to effectively optimize the foreign exchange conversion cost?

According to the latest market practices in 2025, the following strategies are recommended:

• Exchange Rate Locking Tool: Use forward foreign exchange settlement to lock in the exchange rate for 3 - 6 months
• Bank Direct Connection Channel: Reduce intermediate bank deductions through the CIPS system
• Service Fee Negotiation Skills: Companies with an annual export volume exceeding 5 million US dollars can strive for a 0.3% rate discount
• Settlement Cycle Optimization: Centralize scattered foreign exchange receipts into monthly settlements

V. What are the common misunderstandings in calculating the foreign exchange conversion cost?

• Ignore Intermediate Bank Fees: Cross - border remittances generally incur an intermediate bank charge of 25 - 50 US dollars per transaction
• Underestimate Time Costs: There is a price difference loss of 0.1%-0.3% between T + 3 settlement and T + 0 foreign exchange settlement
• Mistakenly Select the Settlement Currency: In 2025, cross - border settlement in Renminbi can save 0.8%-1.2% of the exchange cost compared with that in US dollars
• Misunderstand the Tax - Free Policy: Agent service fees are not deductible for VAT

VI. How to verify the rationality of the agencys quotation?

Recommended adoptionThree - Party Price Comparison Method:

• Obtain the benchmark exchange rate announced by the China Foreign Exchange Trade System on the day
• Inquire about the spot exchange buying rates of major commercial banks (ICBC, BOC, CMB)
• Require the agent company to issue a written quotation including all fees
• Pay special attention to the sharing of hidden costs under the DDP trade terms