How to buy foreign exchange for personal speculation? Can I buy it directly?

How to buy foreign exchange for personal foreign exchange speculation? Whether to buy foreign exchange directly and how to buy foreign exchange should be the most concerned factors for foreign exchange investors. Due to the lack of national laws and regulations in the field of foreign exchange, the RMB cannot be directly used for foreign exchange transactions. Let's find out whether personal foreign exchange speculation can directly buy foreign exchange.

Personal purchase of foreign exchange is the abbreviation of the business of private purchase of foreign exchange by domestic residents, which refers to the business of resident individuals applying to banks for the purchase of foreign exchange for designated purposes.

On February 1, 2007, the new "Detailed Rules for the Implementation of the Measures for the Administration of Individual Foreign Exchange" were implemented, which increased the total amount of foreign exchange purchased by individuals from 20,000 US dollars to 50,000 US dollars; the procedures for purchasing foreign exchange have also undergone some changes. Customers who purchase foreign exchange at banks only need to show their valid ID documents and fill in the application form for foreign exchange purchase completely. After filling in the application form, they can exchange RMB for foreign exchange. Now most commercial banks can provide personal foreign exchange purchase business, but it can only be handled at the bank counter on site, not through online banking or telephone transactions.