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It is intended for applications where it is necessary to emulate decimal rounding exactly, such as financial and tax computations.
Decimal64 supports 16 [[decimal digit]]s of [[significand]] and an [[exponent]] range of −383 to +384, i.e. {{gaps|±0.000|000|000|000|000|e=-383}} to {{gaps|±9.999|999|999|999|999|e=384}}. (Equivalently, {{gaps|±0|000|000|000|000|000|e=-398}} to {{gaps|±9|999|999|999|999|999|e=369}}.) In contrast, the corresponding binary format, which is the most commonly used type, has an approximate range of {{gaps|±0.000|000|000|000|001|e=-308}} to {{gaps|±1.797|693|134|862|315|e=308}}. Because the significand is not normalized, most values with less than 16 [[significant digits]] have multiple possible representations; {{gaps|1×10<sup>2</sup>|=|0.1×10<sup>3</sup>|=|0.01×10<sup>4</sup>}}, etc. Zero has 768 possible representations (1536 if you include both [[signed zero]]s).
Decimal64 floating point is a relatively new decimal floating-point format, formally introduced in the 2008 version of [[IEEE 754]].
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