DOLLARDE

Converts a price quotation given as a decimal fraction into a decimal value.

Sample Usage

DOLLARDE(100.10,32)

DOLLARDE(A2,8)

Syntax

DOLLARDE(fractional_price, unit)

fractional_price - The price quotation given using fractional decimal conventions.
unit - The units of the fraction, e.g. 8 for 1/8ths or 32 for 1/32nds.

Notes

DOLLARDE is used to convert from prices specified on certain securities exchanges with minimal increments (e.g. 1/8 or 1/32) into decimal format. 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. DOLLARDE(100.01,8) results in 100.125 whereas DOLLARDE(100.01,32) results in 100.03125.

Examples

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