{ "model": { "rank": 4206, "code": "thing-q66100", "model_id": "vr.tr.exchange-rate", "name": "exchange rate", "purpose": "Let an agent state exchange rates with pair, direction, date, source and type, and not give personalised financial advice.", "family": "Thing Registry", "category": "Cross-cutting context", "status": "research-draft", "kind": "thing", "plane": "XCT", "domain": "XCT.REL", "industry": "", "version": "", "url": "/models/thing/q66100/", "tier": 2, "score": 77, "payload": { "layer": "wikidata", "aliases": [ "fixed exchange rate", "real exchange rate", "Japanese Yen rate", "Kreuzkurs", "nominal exchange rate", "Trade-weighted effective exchange rate index", "USD/CNY", "XBT/USD", "floating exchange rate" ], "aliasCount": 9, "merged": 9, "knownIn": 77, "facets": null, "markers": [], "lexicalClass": "", "senseRank": null, "alsoRegisteredAs": null, "source": { "dataset": "wikidata", "item": "Q66100", "url": "https://www.wikidata.org/wiki/Q66100", "license": "CC0 1.0" } }, "research": { "vercy": "1.0-draft", "publication": { "status": "research-draft", "adjudicationStatus": "unreviewed", "publishableCanonical": false, "generatedAt": "2026-09-11T05:22:06Z", "providers": [ "Claude" ], "breadth": "written by Claude from model knowledge without web access - no source was read, every claim is a lead to verify", "pass": 2, "wave": 1, "engine": "claude" }, "metaModel": { "id": "THING-Q66100", "registryId": "vr.tr.exchange-rate", "name": "exchange rate", "version": "0.2.0-wave.1", "entryKind": "thing", "family": "Thing Registry", "domain": [ "XCT.REL" ], "status": "research-draft" }, "canonicalUrl": "https://ver.cy/models/thing/q66100/", "model": { "registry_id": "vr.tr.exchange-rate", "name": "exchange rate", "purpose": "Let an agent state exchange rates with pair, direction, date, source and type, and not give personalised financial advice.", "definition": "The price of one currency expressed in another, used to convert amounts; rates may be fixed or floating, nominal or real, bilateral or trade-weighted.", "what_it_is_for": "Converting prices, payments and accounts between currencies.", "affordances": [ "convert amounts", "quote it, as bid, ask or mid", "track it over time", "set or peg it, as central banks may do" ], "distinguishing_features": [ "Direction matters: EUR/USD is USD per EUR", "Mid-market differs from rates offered to customers", "Nominal and real rates differ", "Fixed and floating regimes" ], "appearance": "A number such as EUR/USD 1.10, on screens, websites and receipts.", "visual_identification": [ "Currency pair notation such as EUR/USD", "Bid, ask and mid rates", "Cross rates between non-dollar currencies (Kreuzkurs)" ], "physical_properties": [], "families_and_kinds": [ "fixed and floating rates", "nominal and real rates", "spot and forward rates", "trade-weighted effective rates", "cross rates" ], "related_models": [ { "relation": "is a kind of", "target": "ratio", "why": "price ratio" }, { "relation": "relates", "target": "currency to currency", "why": "pair" }, { "relation": "is set by", "target": "market or central bank", "why": "regime" }, { "relation": "is used in", "target": "payment", "why": "cross-border" } ], "identifiers": [ { "scheme": "ISO 4217 pair", "value_or_pattern": "three-letter codes", "note": "currency pair" } ], "standards_and_regulation": [ "Central bank reference rates such as ECB euro reference rates", "EU Cross-Border Payments Regulation on currency conversion transparency", "Benchmark regulation" ], "failure_modes_and_hazards": [ "Inverting the pair", "Hidden markups in consumer rates", "Stale rates", "Presenting forecasts as advice" ], "in_scope": [], "out_of_scope": [], "characteristics": [] }, "sources": [], "structure": { "bundles": [ { "id": "quote", "name": "Quote", "description": "Pair, direction, value.", "rationale": "Direction errors are common.", "layers": [ { "id": "pair", "name": "Pair", "description": "Base and quote currency.", "findings": [ { "id": "pair-finding", "name": "Pair", "description": "The currency pair.", "questions": [ { "text": "Which currency pair, and in which direction?", "kind": "definition" }, { "text": "Is the value units of quote per unit of base?", "kind": "boundary" } ] } ] }, { "id": "value", "name": "Value", "description": "Rate and time.", "findings": [ { "id": "value-finding", "name": "Rate", "description": "The rate and timestamp.", "questions": [ { "text": "What is the rate, and at what time?", "kind": "measurement" }, { "text": "From which source?", "kind": "provenance" } ] } ] } ] }, { "id": "type", "name": "Type", "description": "Kind of rate.", "rationale": "Different rates answer different questions.", "layers": [ { "id": "kind", "name": "Kind", "description": "Spot, forward, reference.", "findings": [ { "id": "kind-finding", "name": "Kind", "description": "Type of rate.", "questions": [ { "text": "Is this a spot, forward or reference rate?", "kind": "definition" }, { "text": "Is it mid, bid or ask?", "kind": "definition" } ] } ] }, { "id": "regime", "name": "Regime", "description": "Fixed or floating.", "findings": [ { "id": "regime-finding", "name": "Regime", "description": "Exchange rate regime.", "questions": [ { "text": "Is the currency fixed, pegged or floating?", "kind": "definition" }, { "text": "Are there multiple official rates?", "kind": "boundary" } ] } ] } ] }, { "id": "conversion", "name": "Conversion", "description": "Using the rate.", "rationale": "Conversions should disclose costs.", "layers": [ { "id": "amount", "name": "Amount", "description": "Converted amount.", "findings": [ { "id": "amount-finding", "name": "Conversion", "description": "Converted amount.", "questions": [ { "text": "What is the converted amount at this rate?", "kind": "measurement" }, { "text": "What fees or markups apply?", "kind": "measurement" } ] } ] }, { "id": "disclosure", "name": "Disclosure", "description": "Transparency.", "findings": [ { "id": "disclosure-finding", "name": "Disclosure", "description": "Required disclosures.", "questions": [ { "text": "Is the markup over the reference rate disclosed?", "kind": "boundary" }, { "text": "Which regulation requires it?", "kind": "provenance" } ] } ] } ] }, { "id": "limits", "name": "Limits", "description": "No financial advice.", "rationale": "Rates move; agents must not advise on trading.", "layers": [ { "id": "history", "name": "History", "description": "Past rates.", "findings": [ { "id": "history-finding", "name": "History", "description": "Historical data.", "questions": [ { "text": "What was the rate on a past date, from which source?", "kind": "provenance" }, { "text": "How volatile has it been?", "kind": "measurement" } ] } ] }, { "id": "advice", "name": "Advice", "description": "Boundaries.", "findings": [ { "id": "advice-finding", "name": "Advice limits", "description": "What not to say.", "questions": [ { "text": "Is the user asking for trading or investment advice?", "kind": "boundary" }, { "text": "How should the agent respond?", "kind": "action" } ] } ] } ] } ] }, "openQuestions": [ "Should rate types be separate entries?", "Which reference sources should agents prefer?", "How should agents disclose markups?" ], "statistics": { "bundles": 4, "layers": 8, "findings": 8, "questions": 16 } }, "draft": { "generator": "vr.draft.v3", "status": "draft-generated", "researched": false, "archetype": "abstract concept", "method": "Written from the archetype playbook - what this kind of thing needs beyond identity and provenance - and from the structure that recurred across 6,333 models already researched by two engines. Applied to this entry by rule. No source was read for this thing and no claim here is researched. This entry carries no facets of its own, so they were inferred from its domain - a guess about a whole domain applied to one thing.", "facetsInferred": true, "nextPass": "A researcher replaces this draft with a sourced specification. Treat every sentence below as a proposal to argue with.", "purpose": "Give an agent a durable, checkable way to recognise a exchange rate, record what state it is in, and decide what may be done with it.", "whatItIs": "Let an agent state exchange rates with pair, direction, date, source and type, and not give personalised financial advice.", "characteristics": { "substance": "abstract", "origin": "conceptual", "agency": "inert" }, "whatYouCanDoWithIt": [ "observed and measured" ], "distinguishingFeatures": [ "Names folded into this entry, which a task may need to split apart again: fixed exchange rate, real exchange rate, Japanese Yen rate, Kreuzkurs, nominal exchange rate, Trade-weighted effective exchange rate index, USD/CNY, XBT/USD, floating exchange rate.", "9 finer distinctions are held as aliases rather than separate entries, because telling them apart needs a task that asks for it.", "Described in 77 Wikipedia languages, which is a measure of how widely the thing is known, not of how important it is." ], "openQuestionsForResearch": [ "Which of the bundles below does a real task actually need, and which are ceremony?", "What does this thing have that the facets do not capture at all?", "Which neighbouring kind is most often confused with a exchange rate, and on what evidence are they told apart?" ], "whatItIsMadeOf": "an abstraction with no physical instance", "physicalCharacter": [ "Does nothing on its own; everything it does, something else did to it.", "These come from the domain this entry sits in rather than from the entry itself, so treat them as a first guess about the whole domain applied to one thing." ], "whatCanBeDoneWithIt": [ "observe it, measure it, record its state" ], "howItIsRecognised": [ "Nothing to see. What is recognised is an instance of it, and which instances count is exactly what is argued about." ], "relatedModels": [ { "relation": "covers", "note": "Finer kinds folded into this entry because telling them apart needs a task that asks for it. Each is a model waiting to be split out when one does.", "targets": [ "fixed exchange rate", "real exchange rate", "Japanese Yen rate", "Kreuzkurs", "nominal exchange rate", "Trade-weighted effective exchange rate index", "USD/CNY", "XBT/USD", "floating exchange rate" ] } ], "standing": "Described in 77 Wikipedia languages, which measures how widely it is written about rather than how important or how common it is. 9 finer distinctions are held inside this entry as names rather than as separate models.", "structure": { "bundles": [ { "id": "identity-and-classification", "name": "Identity, naming and classification", "description": "How an agent tells one exchange rate from another, and a exchange rate from things that resemble it.", "rationale": "Recognition comes before every other claim. Without stable identity nothing else in the model can be trusted to be about the same thing twice.", "layers": [ { "id": "naming-and-identifiers", "name": "Names and identifiers", "description": "The names this thing goes by and the identifiers that survive translation and time.", "findings": [ { "id": "preferred-name-and-aliases", "name": "Preferred name, aliases and local names", "description": "Which name to use, which names mean the same thing, and which merely sound similar.", "questions": [ { "id": "preferred-name-and-aliases-q01", "text": "What identifies and describes the name of a exchange rate, and in what units or vocabulary?", "kind": "definition", "answer_data": [ "identifiers", "types and classes", "values with units", "explicit unknowns" ] }, { "id": "preferred-name-and-aliases-q02", "text": "Who or what asserted this about the name of a exchange rate, by which method, and when was it true?", "kind": "provenance", "answer_data": [ "authority", "method", "evidence", "event time", "knowledge time" ] }, { "id": "preferred-name-and-aliases-q03", "text": "What may an agent decide or do once the name of a exchange rate is known, and what must it refuse?", "kind": "action", "answer_data": [ "permitted actions", "preconditions", "refusals", "escalation" ] } ] }, { "id": "stable-identifiers", "name": "Stable identifiers and external keys", "description": "Identifiers that keep pointing at this kind of thing across systems and languages.", "questions": [ { "id": "stable-identifiers-q01", "text": "What identifies and describes an identifier for a exchange rate, and in what units or vocabulary?", "kind": "definition", "answer_data": [ "identifiers", "types and classes", "values with units", "explicit unknowns" ] }, { "id": "stable-identifiers-q02", "text": "Who or what asserted this about an identifier for a exchange rate, by which method, and when was it true?", "kind": "provenance", "answer_data": [ "authority", "method", "evidence", "event time", "knowledge time" ] }, { "id": "stable-identifiers-q03", "text": "What may an agent decide or do once an identifier for a exchange rate is known, and what must it refuse?", "kind": "action", "answer_data": [ "permitted actions", "preconditions", "refusals", "escalation" ] } ] } ] }, { "id": "classification-and-granularity", "name": "Classification and granularity", "description": "Where a exchange rate sits among kinds, and how finely a task needs to cut it.", "findings": [ { "id": "kind-and-parents", "name": "Kind, parents and neighbouring kinds", "description": "The classes this thing belongs to and the ones it is next to.", "questions": [ { "id": "kind-and-parents-q01", "text": "What identifies and describes the kind of a exchange rate, and in what units or vocabulary?", "kind": "definition", "answer_data": [ "identifiers", "types and classes", "values with units", "explicit unknowns" ] }, { "id": "kind-and-parents-q02", "text": "Who or what asserted this about the kind of a exchange rate, by which method, and when was it true?", "kind": "provenance", "answer_data": [ "authority", "method", "evidence", "event time", "knowledge time" ] }, { "id": "kind-and-parents-q03", "text": "What may an agent decide or do once the kind of a exchange rate is known, and what must it refuse?", "kind": "action", "answer_data": [ "permitted actions", "preconditions", "refusals", "escalation" ] } ] }, { "id": "distinguishing-features", "name": "Distinguishing features", "description": "What separates a exchange rate from the things most often confused with it.", "questions": [ { "id": "distinguishing-features-q01", "text": "What identifies and describes what distinguishes a exchange rate, and in what units or vocabulary?", "kind": "definition", "answer_data": [ "identifiers", "types and classes", "values with units", "explicit unknowns" ] }, { "id": "distinguishing-features-q02", "text": "Who or what asserted this about what distinguishes a exchange rate, by which method, and when was it true?", "kind": "provenance", "answer_data": [ "authority", "method", "evidence", "event time", "knowledge time" ] }, { "id": "distinguishing-features-q03", "text": "What may an agent decide or do once what distinguishes a exchange rate is known, and what must it refuse?", "kind": "action", "answer_data": [ "permitted actions", "preconditions", "refusals", "escalation" ] } ] } ] } ] }, { "id": "state-and-lifecycle", "name": "State and lifecycle", "description": "The states a exchange rate passes through and the events that move it between them.", "rationale": "Most decisions about a thing depend on what state it is in now, which is a claim with a time on it, not a property.", "layers": [ { "id": "lifecycle-stages", "name": "Lifecycle stages", "description": "From coming into existence to ceasing to be one of these.", "findings": [ { "id": "stages-and-transitions", "name": "Stages and transitions", "description": "The stages worth naming and what moves a exchange rate between them.", "questions": [ { "id": "stages-and-transitions-q01", "text": "What identifies and describes the lifecycle of a exchange rate, and in what units or vocabulary?", "kind": "definition", "answer_data": [ "identifiers", "types and classes", "values with units", "explicit unknowns" ] }, { "id": "stages-and-transitions-q02", "text": "Who or what asserted this about the lifecycle of a exchange rate, by which method, and when was it true?", "kind": "provenance", "answer_data": [ "authority", "method", "evidence", "event time", "knowledge time" ] }, { "id": "stages-and-transitions-q03", "text": "What may an agent decide or do once the lifecycle of a exchange rate is known, and what must it refuse?", "kind": "action", "answer_data": [ "permitted actions", "preconditions", "refusals", "escalation" ] } ] } ] }, { "id": "observations-and-status", "name": "Observations and current status", "description": "What is observed about a exchange rate, how often and by whom.", "findings": [ { "id": "observation-record", "name": "Observation record", "description": "How an observation of a exchange rate is recorded so that it can be superseded rather than overwritten.", "questions": [ { "id": "observation-record-q01", "text": "What identifies and describes an observation of a exchange rate, and in what units or vocabulary?", "kind": "definition", "answer_data": [ "identifiers", "types and classes", "values with units", "explicit unknowns" ] }, { "id": "observation-record-q02", "text": "Who or what asserted this about an observation of a exchange rate, by which method, and when was it true?", "kind": "provenance", "answer_data": [ "authority", "method", "evidence", "event time", "knowledge time" ] }, { "id": "observation-record-q03", "text": "What may an agent decide or do once an observation of a exchange rate is known, and what must it refuse?", "kind": "action", "answer_data": [ "permitted actions", "preconditions", "refusals", "escalation" ] } ] } ] } ] }, { "id": "definitions-in-contest", "name": "Definitions and who holds them", "description": "What exchange rate is taken to mean, and by whom.", "rationale": "When a field disagrees about a concept, the disagreement is the content. A model that picks one definition silently destroys the information.", "layers": [ { "id": "competing-definitions", "name": "Competing definitions", "description": "The main readings and the traditions behind them.", "findings": [ { "id": "definition-map", "name": "Definitions and their holders", "description": "Each definition with the school or body that holds it.", "questions": [ { "id": "definition-map-q01", "text": "Which definitions of exchange rate are in use, and which tradition or body holds each?", "kind": "definition" }, { "id": "definition-map-q02", "text": "What turns on the difference between them in practice?", "kind": "boundary" } ] } ] }, { "id": "operationalisation", "name": "Operationalisation", "description": "How it is measured or applied when it has to be.", "findings": [ { "id": "operational-record", "name": "Measures and proxies", "description": "Instruments and indicators used to stand in for it.", "questions": [ { "id": "operational-record-q01", "text": "How is exchange rate operationalised or measured in practice, and by what instrument?", "kind": "measurement" }, { "id": "operational-record-q02", "text": "What does that operationalisation leave out, and when does that matter?", "kind": "boundary" } ] } ] } ] }, { "id": "instances-and-use", "name": "Instances, use and consequence", "description": "What counts as an instance of exchange rate and what follows from calling something that.", "rationale": "Applying a concept is an act with consequences, so a model must say what the label licenses and what it does not.", "layers": [ { "id": "instances", "name": "What counts as an instance", "description": "Clear cases, borderline cases and non-cases.", "findings": [ { "id": "instance-tests", "name": "Tests for an instance", "description": "What would settle whether something falls under it.", "questions": [ { "id": "instance-tests-q01", "text": "What would settle whether something is an instance of exchange rate?", "kind": "boundary" }, { "id": "instance-tests-q02", "text": "Which borderline cases are argued about, and on what grounds?", "kind": "definition" } ] } ] }, { "id": "consequence", "name": "Consequence of application", "description": "Rights, duties or decisions that follow from the label.", "findings": [ { "id": "consequence-record", "name": "What the label licenses", "description": "What an agent may do once something is classified this way.", "questions": [ { "id": "consequence-record-q01", "text": "What follows practically once something is treated as exchange rate?", "kind": "action" }, { "id": "consequence-record-q02", "text": "What must an agent not infer from the label alone?", "kind": "action" } ] } ] } ] }, { "id": "provenance-and-evidence", "name": "Provenance, evidence and time", "description": "Where every claim about a exchange rate came from and when it held.", "rationale": "A claim without a source and a time cannot be superseded, only overwritten, and an agent that overwrites loses the ability to explain itself.", "layers": [ { "id": "source-and-authority", "name": "Source and authority", "description": "Who said it, on what evidence, and how strongly.", "findings": [ { "id": "claim-provenance", "name": "Claim provenance and confidence", "description": "The authority behind each claim about a exchange rate and how confident it is.", "questions": [ { "id": "claim-provenance-q01", "text": "What identifies and describes a claim about a exchange rate, and in what units or vocabulary?", "kind": "definition", "answer_data": [ "identifiers", "types and classes", "values with units", "explicit unknowns" ] }, { "id": "claim-provenance-q02", "text": "Who or what asserted this about a claim about a exchange rate, by which method, and when was it true?", "kind": "provenance", "answer_data": [ "authority", "method", "evidence", "event time", "knowledge time" ] }, { "id": "claim-provenance-q03", "text": "What may an agent decide or do once a claim about a exchange rate is known, and what must it refuse?", "kind": "action", "answer_data": [ "permitted actions", "preconditions", "refusals", "escalation" ] } ] } ] }, { "id": "time-and-versions", "name": "Time, versions and supersession", "description": "When a claim was true, when it was learnt, and what replaced it.", "findings": [ { "id": "validity-and-supersession", "name": "Validity period and supersession", "description": "How an old claim about a exchange rate is retired without being erased.", "questions": [ { "id": "validity-and-supersession-q01", "text": "What identifies and describes the validity of a claim about a exchange rate, and in what units or vocabulary?", "kind": "definition", "answer_data": [ "identifiers", "types and classes", "values with units", "explicit unknowns" ] }, { "id": "validity-and-supersession-q02", "text": "Who or what asserted this about the validity of a claim about a exchange rate, by which method, and when was it true?", "kind": "provenance", "answer_data": [ "authority", "method", "evidence", "event time", "knowledge time" ] }, { "id": "validity-and-supersession-q03", "text": "What may an agent decide or do once the validity of a claim about a exchange rate is known, and what must it refuse?", "kind": "action", "answer_data": [ "permitted actions", "preconditions", "refusals", "escalation" ] } ] } ] } ] } ] }, "statistics": { "bundles": 5, "layers": 10, "findings": 12, "questions": 32 } } } }