The forum will experience an outage sometime between February 10 at 7:00pm EST and February 12 at 11:59 EST for installation of security updates. The actual time and duration of the outage are unknown but attempts will be made to minimize the downtime. We apologize for any inconvenience.

I'm curious about why the MONEY and SMALLMONEY domains have 4 decimal places instead of 2, as I use for columns representing dollars and cents. Were 4 decimal places used to represent stock prices to the 16th of a dollar? Is there an ISO standard representation of currency? Is it because other countries represent monetary amounts with 4 decimal places? Or is there some other reason why I should use the built-in domains even though I don't track fractions of a cent.

asked 01 Jul '10, 02:58

rbiffl's gravatar image

accept rate: 0%

never made sense to me, so I never use it. All our clients are used to seeing money with 2 decimals. Having 4 causes a lot of extra function use (ROUND) to insure there aren't hidden fractions that make it look like the figures don't add up. I always considered "rates" to be "rates", not money so I also don't understand the logic.

(05 Jul '10, 14:23) Bill Aumen

Ever been at a gas station, they always count at least 3 decimal places. But to be serious the more decimal places you use, the more accurate will be your results. And for calculations involving money the highest accurracy is desired. Why 4 digits, seems to be just a trade-off decision between accuracy and storage requirements for historical reasons. Other major database systems (SQL Server and Oracle) use also 4 decimals for money data types.

Anyway, the official fixed EURO exchange rates have had up to 6 decimal places.

permanent link

answered 01 Jul '10, 07:31

Martin's gravatar image

accept rate: 14%

Your answer
toggle preview

Follow this question

By Email:

Once you sign in you will be able to subscribe for any updates here



Answers and Comments

Markdown Basics

  • *italic* or _italic_
  • **bold** or __bold__
  • link:[text]( "title")
  • image?![alt text](/path/img.jpg "title")
  • numbered list: 1. Foo 2. Bar
  • to add a line break simply add two spaces to where you would like the new line to be.
  • basic HTML tags are also supported

Question tags:


question asked: 01 Jul '10, 02:58

question was seen: 1,093 times

last updated: 01 Jul '10, 07:31