Need to differentiate financial rounding versus retail rounding

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Canada recently decided to nickel round for tendered cash transactions but not all other transactions.

http://www.mint.ca/store/mint/learn/eliminating-the-penny-6900002

The Swiss Franc already does this, but the CLDR data only handles tendered cash rounding. CLDR should differentiate between these two types of rounding.

For the currency data, we should have something like the following:

<info iso4217="CAD" digits="2" rounding="0" tenderedRounding="5"/>
<info iso4217="CHF" digits="2" rounding="0" tenderedRounding="5"/>

Instead of tenderedRounding, we could have tenderRounding, retailRounding or cashRounding as the attribute name. I recommend using the tenderedRounding because the supplemental data uses the tender="false" flag in similar situations.

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TracBot
May 10, 2019, 3:46 AM
Trac Comment 5 by —2013-01-09T21:00:19.975Z

Suggest 2 changes.

1.
<info iso4217="CAD" digits="2" rounding="0" cashRounding="5"/>
<info iso4217="CHF" digits="2" rounding="0" cashRounding="5"/>

cash, just because that is the primary environment where it is needed (where there is no coin), while it is ok in checks, credit cards, bank transfers, etc.

2. IF (and only if) we find evidence that we really need different rounding on a per country basis, add these 3 attributes to the regional currency info, to allow overrides. That would look like the following:

<region iso3166="CH">
<currency iso4217="CHF" from="1799-03-17" digits="2" rounding="0" cashRounding="5"/>
...
</region>

TracBot
May 10, 2019, 3:46 AM
Trac Comment 6 by —2013-01-09T21:38:43.159Z

I like the proposal from Mark.

TracBot
May 10, 2019, 3:46 AM
Trac Comment 5.7 by kent.karlsson14@0885cc00c95d6cd9—2013-01-09T22:10:41.826Z

Replying to (Comment 5 mark):

2. IF (and only if) we find evidence that we really need different rounding on a per country basis, add these 3 attributes to the regional currency info, to allow overrides. That would look like the following:

 

<region iso3166="CH">

<currency iso4217="CHF" from="1799-03-17" digits="2" rounding="0" cashRounding="5"/>

...

</region>

One could indeed have the 'from' and 'to' dates apply to the (cash) rounding rule as well, having several 'currency' tags for the same country and currency. Note that the cash rounding rule changes over time for the same currency, as small-value coins are dropped. Indeed, I'd suggest having this data per country only, and drop (deprecate) the 'info' tag mentioned in point 1.

TracBot
May 10, 2019, 3:46 AM
Trac Comment 9 by —2013-02-04T16:16:56.134Z

Checked in a fix. Only changed CHF and CAD for now. However, the mechanism is in place to have country-specific overrides if someone can take the time to figure out for a significant set:

a. Where a country shares a currency, but has different rounding rules.
b. Where rounding rules have changed over time.

That should go into a different bug, though.

TracBot
May 10, 2019, 3:46 AM
Trac Comment 11 by —2014-04-22T20:37:44.756Z

Milestone 23dres deleted

Priority

medium

Assignee

Mark Davis

Reporter

George Rhoten

Reviewer

John Emmons

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