Numeric, Money, or Integer: Which PostgreSQL Data Type is Best for Currency?

Currency Data Type in Postgres: Numeric vs. Float

Despite outdated claims suggesting otherwise, the Money data type remains a valid option for storing currency in PostgreSQL. However, for most applications, the Numeric data type (also known as Decimal) is recommended.

Numeric vs. Float

Numeric provides higher precision than Float, making it more suitable for monetary calculations. Float can introduce rounding errors, which can be significant in financial contexts.

Money vs. Numeric

While the Money type has certain performance advantages, it is advised to avoid it except in specific use cases. Numeric offers the following benefits:

• Arbitrary precision: Allows for storing values with a large number of digits.
• Exactness: Maintains precision during calculations, ensuring accurate results.
• Industry standard: Widely used for monetary data in financial applications.

Integer for Cents

If fractional cents are not encountered, storing currency as an Integer representing Cents can be an efficient option. This approach eliminates the need for floating-point calculations and improves performance.

Conclusion:

For most applications, the Numeric data type is the recommended choice for storing currency in PostgreSQL. Its high precision and industry acceptance make it the most appropriate option for financial calculations and data storage.

The above is the detailed content of Numeric, Money, or Integer: Which PostgreSQL Data Type is Best for Currency?. For more information, please follow other related articles on the PHP Chinese website!