The money type supports US-style currency with fixed decimal point representation. If Postgres is compiled with USE_LOCALE then the money type should use the monetary conventions defined for locale(7).
Table 8-4. Postgres Monetary Types
| Monetary Type | Storage | Description | Range |
|---|---|---|---|
| money | 4 bytes | Fixed-precision | -21474836.48 to +21474836.47 |
numeric should eventually replace the money type. It has a fully implemented syntax but currently (Postgres v6.4) support only a small range of precision and/or range values and cannot adequately substitute for the money type.
Read the upstream documentation. For corrections, first check the current manual.