Title : Common Misconceptions on Individual Foreign Exchange Business under the Current Account

01 Q: Is there a quota limit on an individual's settlements and purchases of foreign exchange under the current account?

A: Foreign exchange management in the case of individuals follows the general principle of current account convertibility. Therefore，there is no quota limit on an individual's settlements and purchases of foreign exchange under the current account. Individuals may handle real and legitimate current account transactions directly at a bank regardless of the transaction amount，but materials that prove the transaction amount must be provided.

Common Misconception: Exchange settlements and sales under the current account in an amount over US$50,000 cannot be handled at banks.