title: Best Type To Represent Financial Amounts
body: <p>What is the best type to use to represent financial amounts in Haskell?</p>
  
  <p>I am doing some heavy calculations on the price of a financial product and would like to know which is the best type to use when there could potentially be thousands of arithmetic operations done on the price and a list of prices could be averaged.</p>
  
  <p>At the moment I am using <code>Double</code> but I don't think that may be the best choice. Others types I have come across are <code>RealFrac</code> <s>and <code>Fractional</code></s>.</p>
  
  <p><strong>Update</strong></p>
  
  <p>For the person that has marked this post to be closed, the link provided debates whether to use Double or Float. My post is concerned with discounting both these types in favour of a potentially better suited type to represent financial amounts and calculations using financial amounts. Moreover, as @Carsten indicates Double is not a good idea.</p>