PostgreSQL: Which Datatype should be used for Currency?

Question

Seems like Money type is discouraged as described here

My application needs to store currency, which datatype shall I be using? Numeric, Money or FLOAT?

Answer 1

Don't use float or float like datatype to represent currency because if you do so, the financial report's bottom line figure may come incorrectly by + or - a few dollars.

 Numeric data type can be used with forced 2 unit precision for currency.