question regarding Currency Data Type

Question

Hi All,

I have a question regarding storing Currency data. As you might be knowing that Currency data should be stored in an column having datatype as Money. What would be the difference if currency data is stored in an column having datatype as Float or Numeric(upto 2 decimal places).

Thanks

Answer 1

Hi,

Check this:

http://stackoverflow.com/questions/582797/should-you-choose-the-money-or-decimalx-y-datatypes-in-sql-server

I hope this is helpful.

Elmozamil Elamir

MyBlog

---

Please Mark it as Answered if it answered your question
OR mark it as Helpful if it help you to solve your problem
Elmozamil Elamir Hamid
http://elmozamil.blogspot.com

Answer 2

A general suggestion is to use Numeric over money and never use float to represent currency data.

Float is subject to rounding errors and cannot be used relaiabley in an accounting/ Reporting system.

Also when dealing with numeric data type two decimal places might not suffice since there are currencies which are highly devalued and therefore  2 decimal places may not be sufficent to capture the difference during currency conversion.

Answer 3

There is an recent thread that discusses this in great detail.

http://social.msdn.microsoft.com/Forums/en-US/transactsql/thread/de0e5cfe-b984-4700-b81f-a0478a65daf1

---

John

http://knowledgy.org

Answer 4

Thanks for the link.

Answer 5

I have used Decimal (2 decimal places). Thanks for sharing.