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infospace: process book-4-chapter-03

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Extract entities, map to VSM, and synthesize analysis.
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<!-- generated: provider=openrouter model=arcee-ai/trinity-large-preview:free date=2026-02-19 source=book-4-chapter-03 -->
# Computed Exchange Rate
## Definition
The theoretical exchange rate between two currencies calculated based on the official mint standards of each country, assuming coins contain their full legal weight of precious metal. This differs from the real exchange rate, which reflects the actual market value of debased or worn currency.
## Source Chapter
Book IV, Chapter 3
## Context
Part of Smith's analysis of why exchange rates can be misleading indicators of trade balances. He explains that computed exchange rates based on mint standards often diverge significantly from real exchange rates reflecting the actual condition of circulating currency.
## Economic Domain
Exchange
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