Excel DOLLAR Function: Syntax, Examples and Tips

Part of the free Module 5: Excel Formulas and Functions · Function 24 of 105 · Full Excel course

The Excel DOLLAR function converts a number into text formatted as currency, using the currency symbol and format of your Windows or Mac regional settings, and rounds it to the number of decimals you specify. It returns text, not a number, so it is used for labels, reports and messages rather than for further calculation.

Table of Contents

Syntax

=DOLLAR(number, [decimals])

Arguments

Argument	Required / Optional	Meaning
number	Required	The number to convert: a constant, a cell reference or a formula result.
decimals	Optional	Number of digits to the right of the decimal point. Default is 2. A negative value rounds to the left of the decimal point, so -2 rounds to hundreds.

How DOLLAR works

DOLLAR applies the format $#,##0.00_);($#,##0.00) in an English (United States) locale: a currency symbol, thousands separators and negative values in parentheses. On a computer set to another region, the symbol and separators follow that region, so the same formula can show £, € or ₹. The function name stays DOLLAR in every locale. Because the result is text, it aligns left by default and functions such as SUM ignore it.

Step-by-step example

Type 1234.567 in A2.
In B2 enter =DOLLAR(A2). Excel returns $1,234.57, rounded to two decimals.
In C2 enter =DOLLAR(A2,0). The result is $1,235.
In D2 enter =DOLLAR(A2,-2). The result is $1,200, rounded to the nearest hundred.
Type -1234.567 in A3 and copy B2 down. The negative amount appears as ($1,234.57).

Practical use cases

1. Dynamic report caption

="Total revenue for the quarter: "&DOLLAR(SUM(C2:C40))

The caption updates whenever the data changes and keeps the currency format that plain concatenation would lose.

2. Price label with whole units

=DOLLAR(B2,0)&" per unit"

3. Budget variance message

=IF(C2>B2,"Over budget by "&DOLLAR(C2-B2),"Under budget by "&DOLLAR(B2-C2))

4. Rounded totals for a summary slide

=DOLLAR(D2,-3)

Rounds 456,789 to $457,000 for presentations where exact figures are not needed.

Common mistakes and tips

Trying to add DOLLAR results: SUM of text returns 0. Calculate with the raw numbers and apply DOLLAR only to the final display cell.
Wrong currency symbol: DOLLAR always uses the system locale. To force a specific symbol, use TEXT, for example =TEXT(A2,"€#,##0.00").
Negative numbers in brackets: that is the built-in format. If you need a minus sign, use TEXT with a custom format instead.
Cell formatting is usually better: when the value must stay numeric, apply the Currency or Accounting number format to the cell rather than using DOLLAR.
#VALUE! error: the number or decimals argument is text that cannot be interpreted as a number.

DOLLAR versus TEXT for currency formatting

DOLLAR is a shortcut for one specific format. TEXT can produce the same result and much more, so most experienced users prefer it. The formula =TEXT(A2,"$#,##0.00") matches DOLLAR(A2) on a US system, while =TEXT(A2,"₹#,##0") or =TEXT(A2,"€#,##0.00") force a particular symbol regardless of the viewer’s regional settings, something DOLLAR cannot do. TEXT also lets you choose how negatives appear, add a suffix such as “K” for thousands, or show zero as a dash. Use DOLLAR when you want the local currency and have no special requirements; use TEXT whenever the workbook will be opened in more than one country or the format must match a corporate style guide exactly.

Related functions

TEXT: formats a number as text with any custom format and currency symbol.
FIXED: rounds to a set number of decimals and returns text without a currency symbol.
VALUE: converts currency text back to a number.
BAHTTEXT: spells an amount in Thai words.
See all lessons in the Excel Formulas course.

Frequently asked questions

Can I use the DOLLAR function for currencies other than US dollars?

DOLLAR uses the currency symbol from your operating system locale, so it shows the local currency automatically. To choose a specific symbol regardless of locale, use TEXT with a custom format.