Financial

DOLLARFR Function in Excel

Converts a dollar price expressed as a decimal into a fractional dollar.

Syntax

  • =DOLLARFR(decimal_dollar, fraction)

Arguments

  • decimal_dollar (required): Decimal number
  • fraction (required): Denominator of fraction

Examples

  • =DOLLARFR(1.125, 16) - Convert to 16ths - Result: 1.02

DOLLARFR modeling tips

  • Align rate and period units (annual rate ÷ 12 for monthly models).
  • Use consistent cash-flow signs (outflows negative, inflows positive).
  • Hub: [Financial functions guide](/guides/excel-financial-functions-guide/).

Common errors

  • #NUM! if fraction < 0

Use cases

  • Bond pricing
  • Stock quotes
  • Price conversion

Frequently asked questions

  • What is DOLLARFR used for? DOLLARFR converts decimal prices to fractional notation used in bond and stock quotes. If you calculate a bond price of 99.5, DOLLARFR converts it to 99-16 (in 32nds) for quoting. Essential for trading desk calculations.
  • How do I convert a decimal price to 32nds? Use =DOLLARFR(decimal_price, 32). Example: =DOLLARFR(99.5, 32) returns 99.16, meaning 99 and 16/32. The result's decimal part (16) is the numerator of the fraction with denominator 32.
  • Why are bonds quoted in fractions? Historical convention from before decimalization. Treasury bonds use 32nds (and sometimes 64ths for precision). Corporate bonds often use 8ths. DOLLARFR with different denominators handles various conventions: 32 for Treasuries, 8 for corporates.

Editorial review

  • Reviewed by Excel.Directory Editorial Team. Updated May 2026.