Foreign currencies are all money orders in foreign currency. These include B. Checks, bills of exchange and money orders that are payable in foreign places. If, for example, a German importer pays for goods purchased abroad by bank transfer, it is a foreign exchange transaction. Foreign exchange transactions only take place for accounting purposes; Cash is not moved.
In the case of foreign exchange transactions, there is an account debit with the debtor in Germany and an account credit with the payee abroad. One does not speak of foreign exchange transactions when importers abroad pay with cash. Such processes fall under the banks' so-called currency business, in which cash changes hands.