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

Use a 64-bit integer stored as bigint

I recommend using micro-dollars (or similar major currency). Micro means 1 millionth so 1 micro-dollar = $0.000001.

• Simple to use and compatible with every language.
• Enough precision to handle fractions of a cent.
• Works for very small per-unit pricing (like ad impressions or API charges).
• Smaller data size for storage than strings or numerics.
• Easy to maintain accuracy through calculations and apply rounding at the final output.