Money

Library for dealing with money and currency conversion

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RubyMoney - Money

Gem Version Build Status Code Climate Coverage Status Dependency Status License

:warning: Please read the migration notes before upgrading to a new major version.

If you miss String parsing, check out the new monetize gem.

Contributing

See the Contribution Guidelines

Introduction

This library aids one in handling money and different currencies.

Features

  • Provides a Money class which encapsulates all information about an certain amount of money, such as its value and its currency.
  • Provides a Money::Currency class which encapsulates all information about a monetary unit.
  • Represents monetary values as integers, in cents. This avoids floating point rounding errors.
  • Represents currency as Money::Currency instances providing an high level of flexibility.
  • Provides APIs for exchanging money from one currency to another.
  • Has the ability to parse a money and currency strings into the corresponding Money/Currency object.

Resources

Notes

  • Your app must use UTF-8 to function with this library. There are a number of non-ASCII currency attributes.
  • This app requires JSON. If you're using JRuby < 1.7.0 you'll need to add gem "json" to your Gemfile or similar.

Downloading

Install stable releases with the following command:

gem install money

The development version (hosted on Github) can be installed with:

git clone git://github.com/RubyMoney/money.git
cd money
rake install

Usage

require 'money'

# 10.00 USD
money = Money.new(1000, "USD")
money.cents     #=> 1000
money.currency  #=> Currency.new("USD")

# Comparisons
Money.new(1000, "USD") == Money.new(1000, "USD")   #=> true
Money.new(1000, "USD") == Money.new(100, "USD")    #=> false
Money.new(1000, "USD") == Money.new(1000, "EUR")   #=> false
Money.new(1000, "USD") != Money.new(1000, "EUR")   #=> true

# Arithmetic
Money.new(1000, "USD") + Money.new(500, "USD") == Money.new(1500, "USD")
Money.new(1000, "USD") - Money.new(200, "USD") == Money.new(800, "USD")
Money.new(1000, "USD") / 5                     == Money.new(200, "USD")
Money.new(1000, "USD") * 5                     == Money.new(5000, "USD")

# Assumptive Currencies
Money.assume_from_symbol = true
Money.parse("$100") == Money.new(10000, "USD")
Money.parse("€100") == Money.new(10000, "EUR")
Money.parse("£100") == Money.new(10000, "GBP")

# Currency conversions
some_code_to_setup_exchange_rates
Money.new(1000, "USD").exchange_to("EUR") == Money.new(some_value, "EUR")

Currency

Currencies are consistently represented as instances of Money::Currency. The most part of Money APIs allows you to supply either a String or a Money::Currency.

Money.new(1000, "USD") == Money.new(1000, Currency.new("USD"))
Money.new(1000, "EUR").currency == Currency.new("EUR")

A Money::Currency instance holds all the information about the currency, including the currency symbol, name and much more.

currency = Money.new(1000, "USD").currency
currency.iso_code #=> "USD"
currency.name     #=> "United States Dollar"

To define a new Money::Currency use Money::Currency.register as shown below.

curr = {
  :priority        => 1,
  :iso_code        => "USD",
  :iso_numeric     => "840",
  :name            => "United States Dollar",
  :symbol          => "$",
  :subunit         => "Cent",
  :subunit_to_unit => 100,
  :separator       => ".",
  :delimiter       => ","
}

Money::Currency.register(curr)

The pre-defined set of attributes includes:

  • :priority a numerical value you can use to sort/group the currency list
  • :iso_code the international 3-letter code as defined by the ISO 4217 standard
  • :iso_numeric the international 3-digit code as defined by the ISO 4217 standard
  • :name the currency name
  • :symbol the currency symbol (UTF-8 encoded)
  • :subunit the name of the fractional monetary unit
  • :subunit_to_unit the proportion between the unit and the subunit
  • :separator character between the whole and fraction amounts
  • :delimiter character between each thousands place

All attributes are optional. Some attributes, such as :symbol, are used by the Money class to print out a representation of the object. Other attributes, such as :name or :priority, exist to provide a basic API you can take advantage of to build your application.

:priority

The priority attribute is an arbitrary numerical value you can assign to the Money::Currency and use in sorting/grouping operation.

For instance, let's assume your Rails application needs to render a currency selector like the one available here. You can create a couple of custom methods to return the list of major currencies and all currencies as follows:

# Returns an array of currency id where
# priority < 10
def major_currencies(hash)
  hash.inject([]) do |array, (id, attributes)|
    priority = attributes[:priority]
    if priority && priority < 10
      array[priority] ||= []
      array[priority] << id
    end
    array
  end.compact.flatten
end

# Returns an array of all currency id
def all_currencies(hash)
  hash.keys
end

major_currencies(Money::Currency.table)
# => [ :usd, :eur, :bgp, :cad ]

all_currencies(Money::Currency.table)
# => [ :aed, :afn, all, ... ]

Default Currency

By default Money defaults to USD as its currency. This can be overwritten using:

Money.default_currency = Money::Currency.new("CAD")

If you use Rails, then environment.rb is a very good place to put this.

Currency Exponent

The exponent of a money value is the number of digits after the decimal separator (which separates the major unit from the minor unit). See e.g. Wikipedia on ISO 4217 for more information. You can find the exponent (as a Float) by

Money::Currency.new("USD").exponent  # => 2.0
Money::Currency.new("JPY").exponent  # => 0.0
Money::Currency.new("MGA").exponent  # => 0.6989700043360189

Currency Lookup

To find a given currency by ISO 4217 numeric code (three digits) you can do

Money::Currency.find_by_iso_numeric(978) #=> Money::Currency.new(:eur)

Currency Exchange

Exchanging money is performed through an exchange bank object. The default exchange bank object requires one to manually specify the exchange rate. Here's an example of how it works:

Money.add_rate("USD", "CAD", 1.24515)
Money.add_rate("CAD", "USD", 0.803115)

Money.us_dollar(100).exchange_to("CAD")  # => Money.new(124, "CAD")
Money.ca_dollar(100).exchange_to("USD")  # => Money.new(80, "USD")

Comparison and arithmetic operations work as expected:

Money.new(1000, "USD") <=> Money.new(900, "USD")   # => 1; 9.00 USD is smaller
Money.new(1000, "EUR") + Money.new(10, "EUR") == Money.new(1010, "EUR")

Money.add_rate("USD", "EUR", 0.5)
Money.new(1000, "EUR") + Money.new(1000, "USD") == Money.new(1500, "EUR")

There is nothing stopping you from creating bank objects which scrapes XE for the current rates or just returns rand(2):

Money.default_bank = ExchangeBankWhichScrapesXeDotCom.new

If you wish to disable automatic currency conversion to prevent arithmetic when currencies don't match:

Money.disallow_currency_conversion!

Implementations

The following is a list of Money.gem compatible currency exchange rate implementations.

Ruby on Rails

To integrate money in a Rails application use money-rails.

For deprecated methods of integrating with Rails, check the wiki.

Migration Notes

Version 6.0.0

  • The Money#dollars and Money#amount methods now return instances of BigDecimal rather than Float. We should avoid representing monetary values with floating point types so to avoid a whole class of errors relating to lack of precision. There are two migration options for this change:
    • The first is to test your application and where applicable update the application to accept a BigDecimal return value. This is the recommended path.
    • The second is to migrate from the #amount and #dollars methods to use the #to_f method instead. This option should only be used where Float is the desired type and nothing else will do for your application's requirements.