IFC (IFC4X3_TC1) IfcCurrencyRelationship Semantic definition

IfcCurrencyRelationship defines the rate of exchange that applies between two designated currencies at a particular time and as published by a particular source.

An IfcCurrencyRelationship is used where there may be a need to reference an IfcCostValue in one currency to an IfcCostValue in another currency. It takes account of fact that currency exchange rates may vary by requiring the recording the date and time of the currency exchange rate used and the source that publishes the rate. There may be many sources and there are different strategies for currency conversion (spot rate, forward buying of currency at a fixed rate).

The source for the currency exchange is defined as an instance of IfcLibraryInformation that includes a name and a URL. Entity inheritance Attributes

# Attribute Type Description
IfcResourceLevelRelationship (2)
1 Name OPTIONAL IfcLabel

A name used to identify or qualify the relationship.

2 Description OPTIONAL IfcText

A description that may apply additional information about the relationship.

Click to show 2 hidden inherited attributes Click to hide 2 inherited attributes
IfcCurrencyRelationship (5)
3 RelatingMonetaryUnit IfcMonetaryUnit

The monetary unit from which an exchange is derived. For instance, in the case of a conversion from GBP to USD, the relating monetary unit is GBP.

4 RelatedMonetaryUnit IfcMonetaryUnit

The monetary unit to which an exchange results. For instance, in the case of a conversion from GBP to USD, the related monetary unit is USD.

5 ExchangeRate IfcPositiveRatioMeasure

The currently agreed ratio of the amount of a related monetary unit that is equivalent to a unit amount of the relating monetary unit in a currency relationship. For instance, in the case of a conversion from GBP to USD, the value of the exchange rate may be 1.486 (USD) : 1 (GBP).

6 RateDateTime OPTIONAL IfcDateTime

The date and time at which an exchange rate applies.

7 RateSource OPTIONAL IfcLibraryInformation

The source from which an exchange rate is obtained.

Table Formal representation

ENTITY IfcCurrencyRelationship
 SUBTYPE OF (IfcResourceLevelRelationship);
	RelatingMonetaryUnit : IfcMonetaryUnit;
	RelatedMonetaryUnit : IfcMonetaryUnit;
	ExchangeRate : IfcPositiveRatioMeasure;
	RateDateTime : OPTIONAL IfcDateTime;
	RateSource : OPTIONAL IfcLibraryInformation;
END_ENTITY; References Changelog IFC4

  • attribute RateDateTime optional, Is now optional
  • attribute RateDateTime type, Changed from "IfcDateAndTime" to "IfcDateTime"