Converts a price quotation given as a decimal value into a decimal fraction.
Sample Usage
DOLLARFR(100.125,32)
DOLLARFR(A2,8)
Syntax
DOLLARFR(decimal_price, unit)
-
decimal_price
- The price quotation given as a decimal value.. -
unit
- The units of the desired fraction, e.g.8
for 1/8ths or32
for 1/32nds.
Notes
DOLLARFR
is used to convert from decimal format to prices specified on certain securities exchanges with minimal increments (e.g. 1/8 or 1/32). These prices may be transmitted on electronic exchanges as 100.01 for 100 1/8 or 100 1/32 depending on the system and minimal increment.DOLLARFR(100.125,8)
results in100.01
whereasDOLLARDE(100.03125,32)
also results in100.01
.
See Also
DOLLARDE
: Converts a price quotation given as a decimal fraction into a decimal value.