8.2. Monetary Types

The money type stores a currency amount with a fixed fractional precision; see Table 8.3 . The fractional precision is determined by the database's lc_monetary setting. The range shown in the table assumes there are two fractional digits. Input is accepted in a variety of formats, including integer and floating-point literals, as well as typical currency formatting, such as '$1,000.00' . Output is generally in the latter form but depends on the locale.

Since the output of this data type is locale-sensitive, it might not work to load money data into a database that has a different setting of lc_monetary . To avoid problems, before restoring a dump into a new database make sure lc_monetary has the same or equivalent value as in the database that was dumped.

Values of the numeric , int , and bigint data types can be cast to money . Conversion from the real and double precision data types can be done by casting to numeric first, for example:

SELECT '12.34'::float8::numeric::money;

However, this is not recommended. Floating point numbers should not be used to handle money due to the potential for rounding errors.

A money value can be cast to numeric without loss of precision. Conversion to other types could potentially lose precision, and must also be done in two stages:

SELECT '52093.89'::money::numeric::float8;

Division of a money value by an integer value is performed with truncation of the fractional part towards zero. To get a rounded result, divide by a floating-point value, or cast the money value to numeric before dividing and back to money afterwards. (The latter is preferable to avoid risking precision loss.) When a money value is divided by another money value, the result is double precision (i.e., a pure number, not money); the currency units cancel each other out in the division.