View Source Introduction to Money

Build status

Money implements a set of functions to store, retrieve, convert and perform arithmetic on a Money.t/0 type that is composed of an ISO 4217 currency code or an ISO 24165 Digital Token Identifier (crypto currency) with a currency amount.

Money is opinionated in the interests of serving as a dependable library that can underpin accounting and financial applications.

How is this opinion expressed?

  1. Money must always have both a amount and a currency code or digital token identifier.

  2. The currency code must always be a valid ISO 4217 code or a valid ISO 24165 digital token idenfier. Current and historical currency codes can be used. See the ISO Currency for more information. You can also identify the relevant codes by:

  3. Money arithmetic can only be performed when both operands are of the same currency.

  4. Money amounts are represented as a Decimal.

  5. Money can be serialised to the database as a composite Postgres type that includes both the amount and the currency. For MySQL, money is serialized into a json column with the amount converted to a string to preserve precision since json does not have a decimal type. Serialization is entirely optional.

  6. All arithmetic functions work on a Decimal. No rounding occurs automatically (unless expressly called out for a function, as is the case for Money.split/2).

  7. Explicit rounding obeys the rounding rules for a given currency. The rounding rules are defined by the Unicode consortium in its CLDR repository as implemented by the hex package ex_cldr. These rules define the number of fractional digits for a currency and the rounding increment where appropriate.

  8. Money output string formatting output using the hex package ex_cldr that correctly rounds to the appropriate number of fractional digits and to the correct rounding increment for currencies that have minimum cash increments (like the Swiss Franc and Australian Dollar)


  • Money is supported on Elixir 1.11 and later only.

Supervisor configuration and operation

Money starts a supervisor Money.Supervisor by default unless the dependency is configured as runtime: false in mix.exs. If configured as runtime: false then the application can be started later via Money.Application.start(:normal, supervisor_options) where supervisor_options is a keyword list of options that is given the Supervisor.start_link/2. The default options are [strategy: :one_for_one, name: Money.Supervisor].

The application supervisor is used by default to start the exchange rates service when required. The exchange rate service can be configured to run in a user defined supervision tree as explained in the next section.

Private Use Currencies

As of ex_cldr_currencies version 2.6.0 it is possible to define private use currencies. These are currencies that are ISO 4217 compliant but guaranteed never to be allocated by the ISO committee and therefore safe to be used by developers.

Defining private use currencies


Starting the private use currency store

In order to define private use currencies, a special :ets table is required to hold their definitions. The is implemented by a supervisor and two workers that together aim to preserve the availability of the :ets table as resiliently as possible. The implementation is an embedded and updated version of eternal.

The basic requirement is to add a the private use currency supervisor to your applications supervision tree. For example:

defmodule MyApp do
  use Application

  def start(_type, _args) do

    # Start the service which maintains the
    # :ets table that holds the private use currencies
    children = [

    opts = [strategy: :one_for_one, name: MoneyTest.Supervisor]
    Supervisor.start_link(children, opts)

It is also possible to define a callback that is called when the Cldr.Currency supervisor is started so that private use currencies can be defined. For further information see Defining Private Use Currencies.

Exchange rates and currency conversion

Money includes a process to retrieve exchange rates on a periodic basis. These exchange rates can then be used to support currency conversion. This service is not started by default. If started it will attempt to retrieve exchange rates every 5 minutes by default.

By default, exchange rates are retrieved from Open Exchange Rates however any module that conforms to the Money.ExchangeRates behaviour can be configured.

An optional callback module can also be defined. This module defines a rates_retrieved/2 function that is invoked upon every successful retrieval of exchange rates. This might be used to serialize exchange rate to a data store or to stream rates to other applications or systems.


Money provides a set of configuration keys to customize behaviour. The default configuration is:

config :ex_money,
  exchange_rates_retrieve_every: 300_000,
  api_module: Money.ExchangeRates.OpenExchangeRates,
  callback_module: Money.ExchangeRates.Callback,
  exchange_rates_cache_module: Money.ExchangeRates.Cache.Ets,
  preload_historic_rates: nil,
  retriever_options: nil,
  log_failure: :warning,
  log_info: :info,
  log_success: nil,
  json_library: Jason,
  default_cldr_backend: MyApp.Cldr,
  exclude_protocol_implementations: []

Configuration key definitions

  • :default_cldr_backend defines the Cldr backend module that is default for Money. See the ex_cldr documentation for further information on how to define this module. This is a required option.

  • :exchange_rates_retrieve_every defines how often the exchange rates are retrieved in milliseconds. The default is :never. An atom value is interpreted to mean that there should be no periodic retrieval.

  • :api_module identifies the module that does the retrieval of exchange rates. This is any module that implements the Money.ExchangeRates behaviour. The default is Money.ExchangeRates.OpenExchangeRates.

  • :exchange_rates_cache_module defines the module that provides an exchange rates cache. Any module that implements the Money.ExchangeRates.Cache behaviour. Two alternative strategies are provided:

  • :preload_historic_rates defines a date or a date range that will be requested when the exchange rate service starts up. The date or date range should be specified as either a Date.t or a Date.Range.t or a tuple of {Date.t, Date.t} representing the from and to dates for the rates to be retrieved. The default is nil meaning no historic rates are preloaded. See Preloading historic rates for more information.

  • callback_module defines a module that follows the Money.ExchangeRates.Callback behaviour whereby the function rates_retrieved/2 is invoked after every successful retrieval of exchange rates. The default is Money.ExchangeRates.Callback.

  • log_failure defines the log level at which api retrieval errors are logged. The default is :warning.

  • log_success defines the log level at which successful api retrieval notifications are logged. The default is nil which means no logging.

  • log_info defines the log level at which service startup messages are logged. The default is info.

  • :retriever_options is available for exchange rate retriever module developers as a place to add retriever-specific configuration information. This information should be added in the init/1 callback in the retriever module. See Money.ExchangeRates.OpenExchangeRates.init/1 for an example.

  • :json_library determines which json library to be used for decoding. Two common options are Poison and Jason. The default is Cldr.Config.json_library/0 which is currently configured by default as Jason.

  • :exclude_protocol_implementations is a protocol module, or list of protocol modules, that will not be defined by ex_money. The default is []. The protocol implementations influenced by this option at Json.Encoder, Phoenix.HTML.Safe and Gringotts.Money.

JSON library configuration

Note that ex_money does not define a json library dependency and therefore it is the users responsibility to configure the required json library as a dependency in the application's mix.exs.

The recommended library is jason which would be configured as:

  defp deps do
      {:jason, "~> 1.0"},

ex_money depends on ex_cldr which provides currency and localisation data. The default configuration of ex_money uses the default json_library from ex_cldr. This can be configured as follows in config.exs:

config :ex_cldr,
  json_library: Jason

In most cases this is not required since the presence of Jason (or Poison) is automatic.

Configuring locales to support localised formatting

Money uses ex_cldr and ex_cldr_numbers to support configuring locales and providing locale formatting. These packages are also the source of currency definitions, names, formats and so on.

To use Cldr and therefore Money, a backend module must be defined. This module will host the Cldr data and public API used by Money. A simple example would be:

defmodule MyApp.Cldr do
  use Cldr,
    locales: ["en", "fr", "zh"],
    default_locale: "en",
    providers: [Cldr.Number, Money]

Preloading historic rates

The current implementation will call the api_module to retrieve the historic rates once for each date in the :preload_historic_rates range. Some exchange rate services, like Open Exchange Rates, provides a bulk retrieval api that can retrieve multiple dates in a single call. However this endpoint is only available for premium subscribers and it is still charged on a "per date retrieved" basis. So while there is a network/performance/efficiency benefit there is no economic benefit. Please file an issue on github if implementing a bulk api is important to you.

Some examples of configuring the :preload_historic_rates key follow:

  • preload_historic_rates: ~D[2017-01-01]
  • preload_historic_rates: Date.range(~D[2017-01-01], ~D[2017-10-01])
  • preload_historic_rates: {~D[2017-01-01], ~D[2017-10-01]}

Open Exchange Rates configuration

If you plan to use the provided Open Exchange Rates module to retrieve exchange rates then you should also provide the addition configuration key for app_id:

  config :ex_money,
    open_exchange_rates_app_id: "your_app_id"

or configure it via environment variable, for example:

  config :ex_money,
    open_exchange_rates_app_id: {:system, "OPEN_EXCHANGE_RATES_APP_ID"}

The default exchange rate retrieval module is provided in Money.ExchangeRates.OpenExchangeRates which can be used as a example to implement your own retrieval module for other services.

Managing the configuration at runtime

During exchange rate service startup, the function init/1 is called on the configured exchange rate retrieval module. This module is expected to return an updated configuration allowing a developer to customise how the configuration is to be managed. See the implementation at Money.ExchangeRates.OpenExchangeRates.init/1 for an example.

To support runtime (re-)configuration the following functions are provided:

Using Environment Variables in the configuration

Keys can also be configured to retrieve values from environment variables. This lookup is done at runtime to facilitate deployment strategies. If the value of a configuration key is {:system, "some_string"} then "some_string" is interpreted as an environment variable name which is passed to System.get_env/2. An example configuration might be:

config :ex_money,
  auto_start_exchange_rate_service: {:system, "RATE_SERVICE"},
  exchange_rates_retrieve_every: {:system, "RETRIEVE_EVERY"},
  open_exchange_rates_app_id: {:system, "OPEN_EXCHANGE_RATES_APP_ID"}

Note that the {:system, "ENV KEY"} approach is not currently supported for the :preload_historic_rates configuration key.

The Exchange rates service process supervision and startup

If the exchange rate service is configured to automatically start up (because the config key auto_start_exchange_rate_service is set to true) then a supervisor process named Money.ExchangeRates.Supervisor is started which in turns starts a child GenServer called Money.ExchangeRates.Retriever. It is Money.ExchangeRates.Retriever which will call the configured api_module to retrieve the rates. It is also responsible for calling the configured callback_module after a successfull retrieval.

                                     |                 |
+-------------+    +-----------+     |   api_module    |-> External Service
|             |    |           |---> |                 |
| Supervisor  |--->| Retriever |     +-----------------+
|             |    |           |---> +-----------------+
+-------------+    +-----------+     |                 |
                                     | callback_module |
                                     |                 |

On application start (or manual start if :auto_start_exchange_rate_service is set to false), Money.ExchangeRates.Retriever will schedule the first retrieval to be executed after immediately and then each :exchange_rates_retrieve_every milliseconds thereafter.

Using Ecto or other applications from within the callback module

If you provide your own callback module and that module depends on some other applications, like Ecto, already being started then automatically starting Money.ExchangeRates.Supervisor may not work since your Ecto.Repo is unlikely to have already been started.

In this situation the appropriate way to configure the exchange rates retrieval service is the following:

  1. Set the configuration key auto_start_exchange_rate_service to false to prevent automatic startup of the service.

  2. Configure your api_module, callback_module and any other required configuration as appropriate

  3. In your client application code, add the Money.ExchangeRates.Supervisor to the children configuration of your application. For example, in an application that uses Ecto and where your callback_module is designed to save exchange rates to a database, your application may would look something like:

defmodule Application do
  use Application

  def start(_type, _args) do
    import Supervisor.Spec

    children = [

      # Start your repo first so that it is running before your
      # exchange rates callback module is called
      supervisor(MoneyTest.Repo, []),

      # Include the Money.ExchangeRates.Supervisor in your application's
      # supervision tree.  This supervisor will start the child process
      # Money.ExchangeRates.Retriever.

      # Note the use of double `[]` around
      # the parameters which are required to ensure that the supervisor
      # is stopped before including in your supervisor tree.
      # The `start_retriever: true` is optional.  The default value is `false`.
      supervisor(Money.ExchangeRates.Supervisor, [[restart: true, start_retriever: true]])

    opts = [strategy: :one_for_one, name: Application.Supervisor]
    Supervisor.start_link(children, opts)

API Usage Examples

Creating a %Money{} struct

iex>, 100)
#Money<:USD, 100>

iex>, :USD)
#Money<:USD, 100>

iex>"CHF", "130.02")
#Money<:CHF, 130.02>

iex>"thb", 11)
#Money<:THB, 11>

iex>"1.000,99", :EUR, locale: "de")
#Money<:EUR, 1000.99>

iex> Money.parse("USD 100")
#Money<:USD, 100>

iex> Money.parse("USD 100,00", locale: "de")
#Money<:USD, 100.00>

The canonical representation of a currency code is an atom that is a valid ISO4217 currency code or a String.t/0 representation of an ISO 24165 digital token identifier. The amount of a %Money{} is represented by a Decimal.

Note that the amount and currency code arguments to can be supplied in either order.

Parsing money strings

Money provides an ability to parse strings that contain a currency and an amount. The currency can be represented in different ways depending on the locale. See Money.parse/2 for further information. Some examples are:

  # These are the strings available for a given currency
  # and locale that are recognised during parsing
  iex> Cldr.Currency.strings_for_currency :AUD, "de"
  ["aud", "au$", "australischer dollar", "australische dollar"]

  iex> Money.parse "$au 12 346", locale: "fr"
  #Money<:AUD, 12346>

  iex> Money.parse "12 346 dollar australien", locale: "fr"
  #Money<:AUD, 12346>

  iex> Money.parse "A$ 12346", locale: "en"
  #Money<:AUD, 12346>

  iex> Money.parse "australian dollar 12346.45", locale: "en"
  #Money<:AUD, 12346.45>

  # Parse using a default currency
  iex> Money.parse("100", default_currency: :EUR)
  #Money<:EUR, 100>

  # Parse using the default currency of the locale
	# If no `:locale` option is provided then
	# the locale associated with `Money.default_backend/0`
	# is used.
  iex> Money.parse("100", locale: "en")
  #Money<:EUR, 100>

  # Parse with a default currency for the current locale
  iex> Money.parse("100", default_currency: Money.default_currency_for_locale())
  #Money<:USD, 100>

  # Note that the decimal separator in the "de" locale
  # is a `.`
  iex> Money.parse "AU$ 12346,45", locale: "de"
  #Money<:AUD, 12346.45>

  # Round trip formatting is supported
  iex> {:ok, string} = Cldr.Number.to_string 1234, Money.Cldr, currency: :AUD
  {:ok, "A$1,234.00"}
  iex> Money.parse string
  #Money<:AUD, 1234.00>

  # Fuzzy matching is possible
  iex> Money.parse("100 eurosports", fuzzy: 0.8)
  #Money<:EUR, 100>

  iex> Money.parse("100 eurosports", fuzzy: 0.9)
   {Money.Invalid, "Unable to create money from \"eurosports\" and \"100\""}}

  # Eligible currencies can be filtered
  iex> Money.parse("100 eurosports", fuzzy: 0.8, only: [:current])
  #Money<:EUR, 100>

  iex> Money.parse("100 euro", only: [:EUR, :USD, :COP])
  #Money<:EUR, 100>

  iex> Money.parse("100 euro", except: [:EUR, :USD, :COP])
      "The currency \"euro\" is unknown or not supported"}}

  iex> Money.parse "100 afghan afghanis"
  #Money<:AFN, 100>

  iex> Money.parse "100 afa", only: [:current]
    "The currency \"afa\" is unknown or not supported"}}

Casting a money type (basic support for HTML forms)

Money supports form field inputs that are a single string combining both a currency code and an amount. When a form field (or other data) is cast then Money will attempt to parse a string field into a Money.t using Money.parse/2. Therefore simple money form input can be supported with a single input field of type=text.

Note that when parsing the input text, the amount is interpreted in the context of the current locale set on the default backend configured for ex_money. This affects how separator characters are interpreted in exactly the same way as is done for

Float amounts cannot be provided to

Float have well-known issues in computing due to issues of rounding and potential precision loss. Internally Money uses Decimal to store the amount which allows arbitrary precision arithmetic. Money also uses the numeric type in Postgres to preserve precision and even goes to far as to store the amount as a string in MySQL for the same reason.

Therefore an error is returned if an attempt is made to use with a float amount:

  "Float amounts are not supported in new/2 due to potenial rounding " <>
    "and precision issues.  If absolutely required, use Money.from_float/2"}}

If the use of floats is require then the function Money.from_float/2 is provided with the same arguments as those for Money.from_float/2 provides an addition check and will return an error if the precision (number of digits) of the provided float is more than 15 (the number of digits guaranteed to round-trip between a 64-bit float and a string).

Comparison functions

Money values can be compared as long as they have the same currency. The recommended function is which, given two compatible money amounts, will return :lt, :eq or :gt depending on the relationship. For example:

iex>, 100),, 200)

iex>, 100),, 200)
  "Cannot compare monies with different currencies. Received :USD and :AUD."}}

From Elixir verison 1.10.0 onwards, several functions in the Enum module can use the function to simplify sorting. For example:

iex> list = [, 100),, 200)]
[#Money<:USD, 100>, #Money<:USD, 200>]
iex> Enum.sort list, Money
[#Money<:USD, 100>, #Money<:USD, 200>]
iex> Enum.sort list, {:asc, Money}
[#Money<:USD, 100>, #Money<:USD, 200>]
iex> Enum.sort list, {:desc, Money}
[#Money<:USD, 200>, #Money<:USD, 100>]

Note that Enum.sort/2 will sort money amounts even when the currencies are incompatible. In this case the order of the result is not predictable. It is the developers responsibility to filter the list to compatible currencies prior to sorting. This is a limitation of the Enum.sort/2 implementation.

Optional ~M sigil

An optional sigil module is available to aid in creating %Money{} structs. It needs to be imported before use:

import Money.Sigil

#> #Money<:USD, 100>

Localised Money formatting

Money provides locale-specific formatted output that is controlled be either the locale that has been set for this process or by the :locale parameter supplied to Money.to_string/2. Configuring your localised environment requires configuring ex_cldr which is a dependency to Money. See the Configuration section of the ex_cldr readme for more information.

The main API for formatting Money is Money.to_string/2. Additionally formatting options are passed to Cldr.Number.to_string/2. Those options are described in the readme for ex_cldr_numbers which is also a dependency to Money.

iex> Money.to_string"thb", 11)
{:ok, "THB11.00"}

# The default locale is "en-001" which is
# "global english"
iex> Money.to_string"USD", "234.467")
{:ok, "$US234.47"}

# The locale "en" is "American English".  For
# UK English use the locale "en-GB".  Australian
# English is "en-AU" and so on.
iex> Money.to_string"USD", "234.467"), locale: "en"
{:ok, "$234.47"}

iex> Money.to_string"USD", "234.467"), format: :long
{:ok, "234.47 US dollars"}

iex> Money.to_string"USD", "234.467"), locale: "fr"
{:ok, "234,47 $US"}

iex> Money.to_string"USD", "234.467"), locale: "de"
{:ok, "234,47 $"}

iex> Money.to_string"EUR", "234.467"), locale: "de"
{:ok, "234,47 €"}

iex> Money.to_string"EUR", "234.467"), locale: "fr"
{:ok, "234,47 €"}

Note that the output is influenced by the locale in effect. By default the locale used is that returned by Cldr.get_locale/0. Its default value is :en-001. Additional locales can be configured, see Cldr. The formatting options are defined in Cldr.Number.to_string/2.

Arithmetic Functions

See also the module Money.Arithmetic:

iex> m1 =, 100)
#Money<:USD, 100>}

iex> m2 =, 200)
#Money<:USD, 200>}

iex> Money.add(m1, m2)
{:ok, #Money<:USD, 300>}

iex> Money.add!(m1, m2)
#Money<:USD, 300>

iex> m3 =, 300)
#Money<:AUD, 300>

iex> Money.add, 200),, 100)
{:error, {ArgumentError, "Cannot add monies with different currencies. Received :USD and :AUD."}}

# Split a %Money{} returning the a dividend and a remainder. All
# operations respect the number of fractional digits defined for a currency
iex> m1 =, 100)
#Money<:USD, 100>

iex> Money.split(m1, 3)
{#Money<:USD, 33.33>, #Money<:USD, 0.01>}

# Rounding applies the currency definitions of CLDR as implemented in
# the hex package [ex_cldr](
iex> Money.round, "100.678")
#Money<:USD, 100.68>

iex> Money.round, "100.678")
#Money<:JPY, 101>

Currency Conversion

A %Money{} struct can be converted to another currency using Money.to_currency/3 or Money.to_currency!/3. For example:

iex> Money.to_currency, 100), :AUD
{:ok, #Money<:AUD, 136.43>}

iex> Money.to_currency, 100), :AUD, ExchangeRates.historic_rates(~D[2017-01-01])
{:ok, #Money<:AUD, 128.76>}

iex> Money.to_currency, 100) , :AUDD, %{USD:, AUD:}
{:error, {Cldr.UnknownCurrencyError, "Currency :AUDD is not known"}}

iex> Money.to_currency!, 100), :XXX
** (Money.ExchangeRateError) No exchange rate is available for currency :XXX

A user-defined map of exchange rates can also be supplied:

iex> Money.to_currency, 100), :AUD, %{USD:, AUD:}
#Money<:AUD, 130>

Historic Conversion Rates

As noted in the configuration section, ex_money can preload historic exchange rates when the exchange rates service starts up. It can be anticipated that additional historic rates may be required subsequently.

Financial Functions

A set of basic financial functions are available in the module Money.Financial. These functions are:

For more detail see Money.Financial.


Subscriptions, especially in the context of a SaaS, can involve changing plans - either from a smaller plan to a larger or a larger plan to smaller. In either situation a credit amount needs to be calculated based upon the current plan which is then applied to the new plan. Money.Subscription is a module that provides functions to support this subscription pricing, credit calculations and payment dates.

The primary functions supporting subscriptions are:


# Create the current plan
iex> current_plan =!(, 10), :month, 1)
  interval: :month,
  interval_count: 1,
  price: #Money<:USD, 10>

# How many days in a billing period?
iex> Money.Subscription.plan_days current_plan, ~D[2018-03-01]

iex> Money.Subscription.plan_days current_plan, ~D[2018-02-01]

# How many days remaining in the current billing period
iex> Money.Subscription.days_remaining current_plan, ~D[2018-03-01], ~D[2018-03-10]

# When is the next billing date
iex> Money.Subscription.next_interval_starts current_plan, ~D[2018-03-01]

# Create a new plan
iex> new_plan =!(, 10), :month, 3)
  interval: :month,
  interval_count: 3,
  price: #Money<:USD, 10>

# Change plans at the end of the current billing period
iex> Money.Subscription.change_plan current_plan, new_plan, current_interval_started: ~D[2018-03-01]
  carry_forward: #Money<:USD, 0>,
  credit_amount: #Money<:USD, 0>,
  credit_amount_applied: #Money<:USD, 0>,
  credit_days_applied: 0,
  credit_period_ends: nil,
  first_billing_amount: #Money<:USD, 10>,
  first_interval_starts: ~D[2018-04-01],
  next_interval_starts: ~D[2018-07-01]

# Change plans in the middle of the current plan period
# and credit the balance of the current plan to the new plan
iex> Money.Subscription.change_plan current_plan, new_plan, current_interval_started: ~D[2018-03-01], effective: ~D[2018-03-15]
  carry_forward: #Money<:USD, 0>,
  credit_amount: #Money<:USD, 5.49>,
  credit_amount_applied: #Money<:USD, 5.49>,
  credit_days_applied: 0,
  credit_period_ends: nil,
  first_billing_amount: #Money<:USD, 4.51>,
  first_interval_starts: ~D[2018-03-15],
  next_interval_starts: ~D[2018-06-15]

# Change plans in the middle of the current plan period
# but instead of a monetary credit, apply the credit as
# extra days on the new plan in the first billing period
iex> Money.Subscription.change_plan current_plan, new_plan, current_interval_started: ~D[2018-03-01], effective: ~D[2018-03-15], prorate: :period
  carry_forward: #Money<:USD, 0>,
  credit_amount: #Money<:USD, 5.49>,
  credit_amount_applied: #Money<:USD, 0>,
  credit_days_applied: 51,
  credit_period_ends: ~D[2018-05-04],
  first_billing_amount: #Money<:USD, 10>,
  first_interval_starts: ~D[2018-03-15],
  next_interval_starts: ~D[2018-08-05]

# Create a subscription
iex> plan =!(, 200), :month, 3)
iex> subscription =! plan, ~D[2018-01-01]
  created_at: #DateTime<2018-03-23 07:45:44.418916Z>,
  id: nil,
  plans: [
       carry_forward: #Money<:USD, 0>,
       credit_amount: #Money<:USD, 0>,
       credit_amount_applied: #Money<:USD, 0>,
       credit_days_applied: 0,
       credit_period_ends: nil,
       first_billing_amount: #Money<:USD, 200>,
       first_interval_starts: ~D[2018-01-01],
       next_interval_starts: ~D[2018-04-01]
       interval: :month,
       interval_count: 3,
       price: #Money<:USD, 200>

# Change a subscription's plan
iex> new_plan =!(, 150), :day, 30)
iex> Money.Subscription.change_plan! subscription, new_plan
  created_at: #DateTime<2018-03-23 07:47:48.593973Z>,
  id: nil,
  plans: [
       carry_forward: #Money<:USD, 0>,
       credit_amount: #Money<:USD, 0>,
       credit_amount_applied: #Money<:USD, 0>,
       credit_days_applied: 0,
       credit_period_ends: nil,
       first_billing_amount: #Money<:USD, 150>,
       first_interval_starts: ~D[2018-04-01],
       next_interval_starts: ~D[2018-05-01]
       interval: :day,
       interval_count: 30,
       price: #Money<:USD, 150>
       carry_forward: #Money<:USD, 0>,
       credit_amount: #Money<:USD, 0>,
       credit_amount_applied: #Money<:USD, 0>,
       credit_days_applied: 0,
       credit_period_ends: nil,
       first_billing_amount: #Money<:USD, 200>,
       first_interval_starts: ~D[2018-01-01],
       next_interval_starts: ~D[2018-04-01]
       interval: :month,
       interval_count: 3,
       price: #Money<:USD, 200>

Serializing to a database with Ecto

The companion package ex_money_sql provides functions for the serialization of Money data. See the README for further information.


Money can be installed by adding ex_money to your list of dependencies in mix.exs and then executing mix deps.get

def deps do
    {:ex_money, "~> 5.0"},

Why yet another Money package?

  • Fully localized formatting and rounding using ex_cldr

  • Provides serialization to Postgres using a composite type and MySQL using a JSON type that keeps both the currency code and the amount together removing a source of potential error

  • Uses the Decimal type in Elixir and the Postgres numeric type to preserve precision. For MySQL the amount is serialised as a string to preserve precision that might otherwise be lost if stored as a JSON numeric type (which is either an integer or a float)

  • Includes a set of financial calculations (arithmetic and cash flow calculations) that follow solid rounding rules

Falsehoods programmers believe about prices

The github gist gives a good summary of the challenges of managing money in an application. The following described how Money handles each of these assertions.

1. You can store a price in a floating point variable.

Money operates and serialises in a arbitrary precision Decimal value.

2. All currencies are subdivided in 1/100th units (like US dollar/cents, euro/eurocents etc.).

Money leverages CLDR which defines the appropriate number of decimal places of a currency. As of CLDR version 32 there are:

  • 52 currencies with zero decimal digits
  • 241 currencies with two decimal digits
  • 6 currencies with three decimal digits
  • and 1 currency with four decimal digits

3. All currencies are subdivided in decimal units (like dinar/fils)

4. All currencies currently in circulation are subdivided in decimal units. (to exclude shillings, pennies) (counter-example: MGA)

5. All currencies are subdivided. (counter-examples: KRW, COP, JPY... Or subdivisions can be deprecated.)

Money correctly manages the appropriate number of decimal places for a currency. It also round correctly when formatting a currency for output (different currencies have different rounding levels for cash or transactions).

6. Prices can't have more precision than the smaller sub-unit of the currency. (e.g. gas prices)

All Money calculations are done with decimal arithmetic to the maxium precision of 28 decimal digits.

7. For any currency you can have a price of 1. (ZWL)

Money makes no assumption about the value assigned as long as its a real number.

8. Every country has its own currency. (EUR is the best example, but also Franc CFA, etc.)

Money makes no assumptions about the linkage of currencies to territories.

9. No country uses another's country official currency as its official currency. (many countries use USD: Ecuador, Micronesia...)

10. Countries have only one currency.

Money doesn't link territories (countries) to a currency - it focuses only on the Money domain. The addon package cldr_territories does have knowledge of what curriencies are in effect throughout history for a given territory. See

11. Countries have only one currency currently in circulation. (Panama officially uses both PAB and USD)

Money makes no assumptions about currencies in circulation.

12. I'll only deal with currencies currently in circulation anyway.

Money makes no assumptions about currencies in circulation.

13. All currencies have an ISO 4217 3-letter code. (The Transnistrian ruble has none, for example)

Money does validate currency codes against the ISO 4217 list. Custom currencies can be created in accordance with ISO 4217 using

14. All currencies have a different name. (French franc, "nouveau franc")

Money has localised names for all ISO 4217 currencies in each of the over 500 locales defined by CLDR.

15. You always put the currency symbol after the price.

Money formats currency strings according to a format mask that is either defined by CLDR or user supplied.

16. You always put the currency symbol before the price.

Money formats currency strings according to a format mask that is either defined by CLDR or user supplied.

17. You always put the currency symbol either after, or before the price, never in the middle.

Money formats currency strings according to a format mask that is either defined by CLDR or user supplied.

18. There's only one currency symbol for any currency. (元, 角, 分 are increasing units of the Chinese renminbi.)

Money uses format masks defined by CLDR which, for the Chinese renminbi uses the "¥" symbol.

19. For a given currency, you always, but always, put the symbol in the same place.

Money makes no assumpions about symbol placement. The symbol can be places anywhere in a formatted string but is typically, for CLDR format masks, placed either before or after the formatted number.

20. OK. But if you only use the ISO 4217 currency codes, you always put it before the price. (Hint: it depends on the language.)

Same as for the answer to 19 above.

21. Before the price means on the left. (ILS)

Money formats according to a locale and correctly places symbols for languages written right-to-left.

22. You can always use a dot (or a comma, etc.) as a decimal separator.

The decimal separator is defined per locale according to the CLDR definitions.

23. You can always use a space (or a dot, or a comma, etc.) as a thousands separator.

The thousands (acutally grouping since not all locales format in thousands) separator is defined per locale according to the CLDR definitions.

24. You separate big prices by grouping numbers in triplets (thousands). (One writes ¥1 0000)

Grouping is done according the CLDR definitions. For many languages the grouping is in thousands. Some format other ways. For example in India numbers are formatted with the first group as a triplet and subsequent groups as doublets.

25. Prices at a single company will never range from five digits before the decimal to five digits after.

Money's default precision is 28 decimal digits. All arithmetic is done using arbitrary precision decimal arithemetic. No round is performed unless either explicitly requested or a money value is formatted for output. When formatting rounding is applied according the locale-specific rules.

26. Prices contains only digits and punctuation. (Germans can write 12,- €)

Money format masks can contain very flexible formatting masks. A set of formats is defined for each locale and a user-defined masks can also be defined.

27. A price can be at most 10^N for some value of N.

See the answer to 25.

28. Given two currencies, there is only one exchange rate between them at any given point in time.

Money supports an exchange rate mechansim, currency conversions and retrieval from external exchange rate services. It does not impose any constraint on underlying conversion tables.

29. Given two currencies, there is at least one exchange rate between them at any given point in time. (restriction on export of MAD, ARS, CNY, for example)

See the answer to 28.

30. And the final one: a standalone $ character is always pronounced dollar. (It's also the peso sign.)

This is outside the domain of Money.