Best data type for storing currency values in a MySQL database

Question

What is the best SQL data type for currency values? I'm using MySQL but would prefer a database independent type.

Answer 1

You must use fixed-point numeric data type for storing the money values in MYSQL like this:

decimal(15,2)

Here, 15 is the precision (i.e. total length of value including decimal places) and 2 is the number of digits after the decimal point.

Note: As money needs an exact representation. So, never use data-type that is only approximate like float. 

For more information, you can refer to MySQL Numeric Types

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