Following is an example detailing the use of the CUR segment.
Monetary values are assumed to be expressed in the currency of the country of the transaction originator unless the optional CUR segment is used to specify a different currency. The CUR segment also permits the transaction originator to indicate a specific exchange rate, foreign exchange location and date/time as the basis for a currency conversion.
Example 1. Assuming the currency of the transaction originator is U.S. dollars, the following CUR segment, when used in the heading area of a transaction, would indicate that all monetary values appearing in the transaction are expressed in Canadian Dollars (CAD). (In this example the exchange rate is at the discretion of the discretion of the receiver).
Example 2. Assuming the currency of the transaction originator is U.S. dollars, the following CUR segment, when used in the detail area of a transaction, describes a currency conversion for that particular item from U.S. dollars to Canadian dollars. It also indicates that a specific exchange rate, at a specified foreign exchange location on a given date/time be used as the basis for the currency conversion. Notes below the diagram describe the meaning of the element values.
Identifies the buyer's (BY) currency as U.S. dollars (USD).
The multiplier (1.20) is the exchange rate factor for the conversion.
Identifies the seller's (SE) currency as Canadian dollars (CAD).
Indicates the basis for the exchange rate as the New York Foreign Exchange (NYC) and the effective date/time (007) as April 1, 1995 (950401) at 2:00 P.M. (1400).
The value for this item is to be converted to Canadian dollars (CAD) at the exchange rate of 1.20, based on the New York Foreign Exchange (NYC) at 2:00 P.M. (1400) on April 1, 1995. The actual unit price conversion for the item would be:
The unit price value 7.50 (U.S. dollars) multiplied by the exchange rate (1.20) equals 9.00 Canadian dollars (7.50 X 1.20 = 9.00). CUR07 through CUR21 provide for five (5) dates/times relating to the currency conversion, i.e., effective date, expiration date, etc.