MS Excel: DOLLAR function convert number to currency format

The DOLLAR function in Excel is used to convert a number into a currency-formatted text string. It doesn't perform calculations, but instead formats numeric values with a currency symbol (based on your system settings), correct decimal places, and thousands separators—making numbers readable and presentation-ready.

It’s especially helpful in reports, invoices, or dashboards where you want numbers to appear in a currency format as text—not just visually formatted using cell styles.

Syntax

=DOLLAR(number, [decimals])

Parameters:

Argument	Description
number	The numeric value you want to convert to currency text
[decimals]	(Optional) Number of digits to the right of the decimal point. Defaults to 2 if omitted.

Examples with Tables

Example 1: Format a Number as Currency

=DOLLAR(1234.567)

Input	Formula	Result
1234.567	=DOLLAR(1234.567)	$1,234.57

Example 2: Format with No Decimal Places

=DOLLAR(1234.567, 0)

Input	Formula	Result
1234.567	=DOLLAR(1234.567, 0)	$1,235

Example 3: Negative Decimal Places (Rounds Left of Decimal)

=DOLLAR(1234.567, -2)

Input	Formula	Result
1234.567	=DOLLAR(1234.567, -2)	$1,200

Example 4: Using with a Cell Reference

Assuming:

• A1 = 9876.543

  
  

=DOLLAR(A1, 1)

A1 Value	Formula	Output
9876.543	=DOLLAR(A1, 1)	$9,876.5

How DOLLAR Differs from Cell Formatting

Feature	DOLLAR Function	Cell Formatting (Ctrl+1 → Currency)
Output Type	Text	Number (still usable in calculations)
Used in Formulas	✅ Yes	❌ No (just visual)
Keeps Value for Math	❌ No (becomes text)	✅ Yes

Summary

Feature	Detail
Function Name	DOLLAR
Purpose	Converts numbers to text formatted as currency
Returns	Text string
Affects Math	❌ No – Returns text, not usable in calculations
Default Format	Based on system locale (e.g., $ in the US)

Notes and Limitations

• Because it returns text, the result of DOLLAR cannot be used directly in numeric calculations.

• The currency symbol is pulled from your system’s regional settings.

• If you're working internationally, consider using TEXT(number, "[$$-en-US]#,##0.00") for more control.

Related Functions

Function	Description
TEXT	Formats numbers as text using custom patterns
FIXED	Rounds and converts to text without currency
VALUE	Converts text back to a number
NUMBERVALUE	Converts text to number using locale rules

Final Thoughts

The DOLLAR function is a quick and effective way to display numbers as currency-formatted text, especially in reports and dashboards where readability is more important than further numeric computation. Use it when you want consistent formatting, regardless of cell style or localization.