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RE: Currency Localization

Subject: RE: Currency Localization
From: "Tim Watts" <timw@xxxxxxx>
Date: Mon, 13 Aug 2001 10:25:46 +1000
localization company
> -----Original Message-----
> From: David_Marston@xxxxxxxxx

>
> Tim Watts (timw@xxxxxxx) writes:
> >I am trying to compile an XML document which contains numbering and
> >currency information for world currencies
>
> This looks like a good idea to me. [snip]
>
> In the USA, it is permissible to do certain accounting in mills, or
> thousandths of a dollar, but there is no currency nor banking support
> below cents (hundredths of a dollar). [snip]
>
> Some proposals floating around Washington would make make $0.05 the
> smallest unit of currency while banking support continues down to
> $0.01, so you can see why more rigor is needed and why the number of
> decimal places may not be adequate to express all necessary values.

Good points David.

In fact Australia has already taken 1 cent and 2 cent coins out of
circulation, (although banks still support $0.01, all cash amounts are
rounded to the nearest $0.05)

We also have the same pricing petrol -  in thousandths of a dollar - but
this is rounded to the nearest $0.05 or $0.01 (cash or electronic payment)

That may be difficult information to find right away - and outside of my
current requiremnets - but will also be valuable info.

Tim :)



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