Are there any rules about what Rounding Mode and Rounding Increments should be used for different currency types?
I am aware of ISO 4217 which specifies the number of minor units (digits after decimal point) that are permitted for known currency types.
But, after searching on the internet for more than half-a-day, there seems to be no clear guidance about what Rounding Mode and Rounding Increments should be used for currency types. Does that mean it is up to the application developer to choose the Rounding Mode and Rounding Increments?
I was told that there are some laws that mandate certain rounding mechanisms to be used for certain currencies, but unfortunately I couldn't find them.