Most software projects deal with monetary values. Primitive wrappers like Float and Double or richer types like BigDecimal are sometimes used to represent monetary values. On the other hand, we often develop or use third-party APIs that offer abstraction for representing money. So clearly it's a very common problem that requires a common standard.

The JSR 354 (Money and Currency API) is a work towards defining an API that provides abstraction for money and currency.

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