What data type is best for storing monetary values? Explanation: Currency is numeric information. For monetary calculations, FLOAT and DOUBLE are subject to rounding errors and may not be appropriate. The DECIMAL (M, 2) type works best for this.
What data type is best for currency amounts?
Best data type for currency amounts: The best data type for currency amounts is
What kind of data is currency?
The MONEY data type stores currency amounts. Like the DECIMAL(p,s) data type, MONEY can store fixed-point numbers up to a maximum of 32 significant digits, where p is the total number of significant digits (precision) and s is the number of digits to the right of the decimal point (the scale).
What data type should currency be in SQL?
The usual solution is to have a MONEY field for the amount and a VARCHAR field for the currency symbol/name. I think the best way to store currencies is using NUMERIC or DECIMAL datatypes since these values participate in calculations.
Which data type is best for currencies?
Explanation: Currency is numeric information. For currency calculations, FLOAT and DOUBLE are subject to rounding errors and may not be appropriate. A DECIMAL(M, 2) type works best.
What is the best data type for currency amounts in Java?
Java has a Currency class that represents ISO 4217 currency codes. BigDecimal is the best type to represent monetary decimal values.
What kind of data is used for currency?
The MONEY data type stores currency amounts. Like the DECIMAL(p,s) data type, MONEY can store fixed-point numbers up to a maximum of 32 significant digits, where p is the total number of significant digits (precision) and s is the number of digits to the right of the decimal point (the scale).
What kind of numeric data is best for prices or financials?
Because of this, we should always prefer BigDecimal or BigInteger for financial calculations. Primitive types – int and long are also useful for money calculations when decimal precision is not required.
Is currency a numeric data type?
Numeric data types include: Integer: Accepts positive and negative integers, but no decimals or fractions. … Currency: Accepts numbers with up to two decimal places and displays them with the selected currency in reports.
What data type is best for currency amounts?
Best data type for currency amounts: The best data type for currency amounts is
What is the data type for currency in SQL?
Currency is one such data type (it is an integer value scaled to include decimals). The short story and the rule is to only use currency data types as floating numbers will give you a lot of trouble.