Re: Currency Localization

Tim Watts (timw@xxxxxxx) writes:
>I am trying to compile an XML document which contains numbering and
>currency information for world currencies, and have been unable to find
>the information I require after two days of searching. (There is no ISO
>spec which I could find with all the information I wanted)
>I thought I would ask for the XSL List for assistance in completing it.
>Anyone who wishes to use the resource could then have a copy.

This looks like a good idea to me. I think that xml.org should give it
a good home, because it's related to their registry function.
I recognize that this one is actual data in XML rather than an XML
vocabulary, but I think the world is ready for such data.

It may be necessary to provide more rigorous definitions of each field.
Consider this excerpt:
<option iso="USD" short="$" decimals="2"
decimal-separator="." grouping-separator=","
currency-placement="before">American Dollars</option>
and the description "the number of decimal places" for the "decimals"
attribute. Evidently, Tim's definition of "decimals" is "the number of
decimal places required to encompass the smallest unit of accounting
required for commerce" but it might be "the number of decimal places
required to encompass the smallest unit of currency in circulation."
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). The most common example for
Americans is that most bulk petroleum products, like gasoline at the
pump, are priced down to the mill, but you have to pay in even cents.
Conversely, two parties can agree to do business only in whole dollars.
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.

Overall, this is a good start to a good idea. Let's see what
develops.
.................David Marston


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