On Wed, 14 Jun 2000, Shimpei Yamashita wrote:
> BTW, the American dollar goes down to more than two decimal places if
> you're looking at stock quotes, because the unit there is sixteenth of a
> dollar.
Or 1/32 or 1/256 or ...
Prices are handled differently from amounts.
The price is multiplied by the quantity and that result is adjusted to the
"integral" amount of exchange.
At one time the US used "mils" ($0.001). However, clerks worked for $1 per day
or less. With inflation, the smallest exchange is now the penny ($0.01) and
commerce is conducted in those units.
Back in the time of WWII, the Italian Lira was worth so little that they
traded in thousands or millions of them and ignored "the change".
> But normally you would want to round at the cent level. How are
> you going to figure out which limit to apply at any given time?
Each currency has its own "primitive" amount and all transactions are
conducted in terms of that unit. Prices are often expressed to a higher
precision or as a rational fraction of that unit.
--
Gnucash Developer's List
To unsubscribe send empty email to: [EMAIL PROTECTED]
