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  1. 1. Sept. 2009 · Use BigDecimal for computations if you need the precision that it offers (Money values often need this). Use the NumberFormat class for display. This class will take care of localization issues for amounts in different currencies.

    • Overview
    • Setup
    • Jsr-354 Features
    • Model
    • Currencyunit
    • MonetaryAmount
    • Monetary Arithmetic
    • Monetary Rounding
    • Currency Conversion
    • Currency Formatting

    JSR 354– “Currency and Money” addresses the standardization of currencies and monetary amounts in Java. Its goal is to add a flexible and extensible API to the Java ecosystem and make working with monetary amounts simpler and safer. The JSR did not make its way into JDK 9 but is a candidate for future JDK releases.

    First, let’s define the dependency into our pom.xmlfile: The latest version of the dependency can be checked here.

    The goals of “Currency and Money” API: 1. To provide an API for handling and calculating monetary amounts 2. To define classes representing currencies and monetary amounts, as well as monetary rounding 3. To deal with currency exchange rates 4. To deal with formatting and parsing of currencies and monetary amounts

    Main classes of the JSR-354 specification, are depicted in the following diagram: The model holds two main interfaces CurrencyUnit and MonetaryAmount, explained in the following sections.

    CurrencyUnit models the minimal properties of a currency. Its instances can be obtained using the Monetary.getCurrencymethod: We create CurrencyUnit using a String representation of the currency, this could lead to a situation where we try to create a currency with nonexistent code. Creating currencies with nonexistent codes raise an UnknownCurrenc...

    MonetaryAmount is a numeric representation of a monetary amount. It’s always associated with CurrencyUnit and defines a monetary representation of a currency. The amount can be implemented in different ways, focusing on the behavior of a monetary representation requirements, defined by each concrete use cases. For example. Money and FastMoney are i...

    We can perform monetary arithmetic between Money and FastMoneybut we need to be careful when we combine instances of these two classes. For example, when we compare one Euro instance of FastMoney with one Euro instance of Moneythe result is that they are not the same: We can perform add, subtract, multiply, divide and other monetary arithmetic oper...

    Monetary rounding is nothing else than a conversion from an amount with an undetermined precision to a rounded amount. We’ll use the getDefaultRounding API provided by the Monetary class to make the conversion. The default rounding values are provided by the currency:

    Currency conversion is an important aspect of dealing with money. Unfortunately, these conversions have a great variety of different implementations and use cases. The API focuses on the common aspects of currency conversion based on the source, target currency, and exchange rate. Currency conversion or the access of exchange rates can be parametri...

    The formatting allows the access of formats based on java.util.Locale. Contrary to the JDK, the formatters defined by this API are thread-safe: Here we’re using the predefined format and creating a custom format for our currencies. The use of the standard format is straightforward using the method format of the MonetaryFormatsclass. We defined our ...

  2. 8. Jan. 2024 · BigDecimal represents an immutable arbitrary-precision signed decimal number. It consists of two parts: Unscaled value – an arbitrary precision integer. Scale – a 32-bit integer representing the number of digits to the right of the decimal point. For example, the BigDecimal 3.14 has the unscaled value of 314 and the scale of 2.

  3. 6. Mai 2020 · Introduction. While investigating Protobuf I shot from the hip and wrote that: to model money, one should use BigDecimal. That’s the conventional wisdom and it is correct - in a lot of cases. It’s fine when you deal with one single currency and you are most of all concerned with the precision of financial calculations.

  4. It all comes down to precision, and Java's BigDecimal seems the correct answer on that platform because it gives you the best support for specifying and preserving what can be highly variable precision.

  5. It is recommended to use BigDecimal class while dealing with Currency or monetary values as it provides better handling of floating point numbers and their operations. Since: 1.4.

  6. 21. Aug. 2022 · How to create BigDecimal properly. Looking at BigDecimal's source code, we can figure out four significant constructors: public BigDecimal(int val) public BigDecimal(long val) public BigDecimal(double val) public BigDecimal(String val) The scale of the BigDecimal created by the above four constructors is different.