Financial Time Series

todecimal

Fractional to decimal conversion

Syntax

usddec = todecimal(quote, fracpart)

Description

usddec = todecimal(quote, fracpart) returns the decimal equivalent, usddec, of a security whose price is normally quoted as a whole number and a fraction (quote). fracpart indicates the fractional base (denominator) with which the security is normally quoted (default = 32).

Example

In the Wall Street Journal bond prices are quoted in fractional form based on 32nd. For example, if you see the quoted price is 100:05 it means 100 5/32. To find the equivalent decimal value, enter

usddec = todecimal(100.05)

usddec = 
   1000.1563

usddec = todecimal(97.04, 16)

usddec =
   97.2500

Note    The convention of using . (period) as a substitute for : (colon) in the input is adopted from Microsoft Excel.

See Also

toquoted

todaily

tomonthly