Currency Rate Conversions

Yahoo Archive
1
Idiot Chris!! This is a scaling issue, not a rounding one. The larger
the amount the larger the discrepancy. It has nothing to do with
rounding. The only solution is more decimal places.

--- In vantage@yahoogroups.com, "Chris Robisch" <blue.wine@...> wrote:
>
> We use GBP and USD and get conversion descrepancies due to only 6
decimal places. A rate of GBP -> USD 1.754 isn't the same as USD ->
GBP .570125427... because we can only store .570125. So when we receive
wire transfers, we have to change the rate direction from invoicing to
use the rate the bank gives us.
>
> Isn't this a rounding problem where Vantage should use round(rate *
amount,2) so either direction will work?
>
> [Non-text portions of this message have been removed]
>
2
We use GBP and USD and get conversion descrepancies due to only 6 decimal places. A rate of GBP -> USD 1.754 isn't the same as USD -> GBP .570125427... because we can only store .570125. So when we receive wire transfers, we have to change the rate direction from invoicing to use the rate the bank gives us.

Isn't this a rounding problem where Vantage should use round(rate * amount,2) so either direction will work?

[Non-text portions of this message have been removed]