Convert number to currency (Dollar).
The Excel DOLLAR function display a number with a dollar currency but in a text format. For example, to convert a numerical value to the dollar, the formula can be =DOLLAR(500) returns $500 as a currency but in a text format.
= DOLLAR(number, [decimals])
number – A number to convert using currency format
decimal [Optional] – The number of digits to the right of the decimal point
Number with currency format
- Number converted using the DOLLAR function is stored as text in Excel.
- The default for decimals is 2. If the decimal argument is negative, the number will round to the left of the decimal point.
- Numbers stored as text returns with an error while using functions such as SUM, AVERAGE, MIN, MAX, etc.
- The DOLLAR function is also susceptible to wrong results as shown above.
- It is preferable to use the Format Cells dialog (Ctrl+1), select Currency > $ or Home > Number Box> Currency Number Format option to apply a currency formatting to the cell.