[Date Prev] | [Thread Prev] | [Thread Next] | [Date Next] -- [Date Index] | [Thread Index] | [List Home]

*Subject*: **Re: [office-formula] euroconvert**

*From*:**robert_weir@us.ibm.com***To*: "office-formula@lists.oasis-open.org" <office-formula@lists.oasis-open.org>*Date*: Wed, 2 Dec 2009 14:56:52 -0500

"Andreas J. Guelzow" <aguelzow@math.concordia.ab.ca> wrote on 12/02/2009 02:19:07 PM: > Is this function really just a synonym for multiplication with one of a > small selection of factors, or is in fact more happening here (such as > truncation or rounding of the result)? > Certainly, there are very simple mathematical facts at the core of this function: a list of a dozen conversion factors from legacy national currencies to the Euro. But the bankers made it a bit more complicated. The main complication is the EC's Rule 1103/97: http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=CELEX:31997R1103:EN:HTML Especially note Articles 4 and 5, where specific rules for rounding are specified and what was later called the "triangulation rule" is specified for conversion between legacy currencies using the Euro as a intermediary format. Now why this added complexity, you might ask? I'm not sure, but my guess is they wanted to publish a simple list of N conversion factors and not an N^2 factors, some of which would be inexact, or favoring one direction or another, introducing arbitrage opportunities, etc. In any case, the intent of this function is to implement the canonical conversion from Rule 1103/97. In fact, we should probably reference that Rule in the definition of the function. -Rob

**Follow-Ups**:**Re: [office-formula] euroconvert***From:*"Andreas J. Guelzow" <aguelzow@math.concordia.ab.ca>

**References**:**euroconvert***From:*Patrick Durusau <patrick@durusau.net>

**Re: [office-formula] euroconvert***From:*robert_weir@us.ibm.com

**Re: [office-formula] euroconvert***From:*Patrick Durusau <patrick@durusau.net>

**Re: [office-formula] euroconvert***From:*robert_weir@us.ibm.com

**Re: [office-formula] euroconvert***From:*"Andreas J. Guelzow" <aguelzow@math.concordia.ab.ca>

[Date Prev] | [Thread Prev] | [Thread Next] | [Date Next] -- [Date Index] | [Thread Index] | [List Home]