PostgreSQL: Which Datatype should be used for Currency?
PostgreSQL: Which Datatype should be used for Currency? Seems like Money type is discouraged as described here Money My application needs to store currency, which datatype shall I be using? Numeric, Money or FLOAT? If you have read the whole thread, Numeric is the way to go. – razpeitia Mar 31 '13 at 5:10 5 Answers 5 Numeric with forced 2 units precision. Never use float or float like datatype to represent currency because if you do, people are going to be unhappy when the financial report's bottom line figure is incorrect by + or - a few dollars. The money type is just left in for historical reasons as far as I can tell. That's not why you avoid floating point. Even Numeric will have rounding errors if you divi...