diff --git a/bench/to_string.exs b/bench/to_string.exs
index 6904691..49a1507 100644
--- a/bench/to_string.exs
+++ b/bench/to_string.exs
@@ -1,10 +1,12 @@
 {:ok, options} = Cldr.Number.Format.Options.validate_options([], MyApp.Cldr, locale: Cldr.get_locale())
+number = 100000.55
 
 Benchee.run(
   %{
-    "Number to_string" => fn -> MyApp.Cldr.Number.to_string 10000.55 end,
-    "Number to_string preformatted options" => fn -> MyApp.Cldr.Number.to_string 10000.55, options end,
-    "Float to_string" => fn -> Float.to_string 10000.55 end
+    "Number to_string" => fn -> MyApp.Cldr.Number.to_string number end,
+    "Number to_string preformatted options" => fn -> MyApp.Cldr.Number.to_string number, options end,
+    "Float to_string" => fn -> Float.to_string 10000.55 end,
+    ":erlang.float_to_binary" => fn -> :erlang.float_to_binary(number, [:compact, decimals: 3]) end
   },
   time: 10,
   memory_time: 2
diff --git a/lib/cldr/number.ex b/lib/cldr/number.ex
index cd86864..7723afe 100644
--- a/lib/cldr/number.ex
+++ b/lib/cldr/number.ex
@@ -214,12 +214,16 @@ defmodule Cldr.Number do
     locale currently in affect for this `Process` and which is set by
     `Cldr.put_locale/1`.
 
-  * `:fractional_digits` is set to a positive integer value then the number
-    will be rounded to that number of digits and displayed accordingly overriding
+  * If `:fractional_digits` is set to a positive integer value then the number
+    will be rounded to that number of digits and displayed accordingly - overriding
     settings that would be applied by default.  For example, currencies have
     fractional digits defined reflecting each currencies minor unit.  Setting
     `:fractional_digits` will override that setting.
 
+  * If `:round_nearest` is set to a positive integer value then the number
+    will be rounded to nearest increment of that value - overriding
+    settings that would be applied by default.
+
   * `:minimum_grouping_digits` overrides the CLDR definition of minimum grouping
     digits. For example in the locale `es` the number `1234` is formatted by default
     as `1345` because the locale defines the `minimium_grouping_digits` as `2`. If
diff --git a/lib/cldr/number/backend/number.ex b/lib/cldr/number/backend/number.ex
index 96ef2a5..bd6a98f 100644
--- a/lib/cldr/number/backend/number.ex
+++ b/lib/cldr/number/backend/number.ex
@@ -197,12 +197,16 @@ defmodule Cldr.Number.Backend.Number do
           locale currently in affect for this `Process` and which is set by
           `Cldr.put_locale/1`.
 
-        * `:fractional_digits` is set to a positive integer value then the number
-          will be rounded to that number of digits and displayed accordingly overriding
+        * If `:fractional_digits` is set to a positive integer value then the number
+          will be rounded to that number of digits and displayed accordingly - overriding
           settings that would be applied by default.  For example, currencies have
           fractional digits defined reflecting each currencies minor unit.  Setting
           `:fractional_digits` will override that setting.
 
+        * If `:round_nearest` is set to a positive integer value then the number
+          will be rounded to nearest increment of that value - overriding
+          settings that would be applied by default.
+
         * `:minimum_grouping_digits` overrides the CLDR definition of minimum grouping
           digits. For example in the locale `es` the number `1234` is formatted by default
           as `1345` because the locale defines the `minimium_grouping_digits` as `2`. If
diff --git a/lib/cldr/number/format/compiler.ex b/lib/cldr/number/format/compiler.ex
index 880c0ce..555c45d 100644
--- a/lib/cldr/number/format/compiler.ex
+++ b/lib/cldr/number/format/compiler.ex
@@ -125,7 +125,7 @@ defmodule Cldr.Number.Format.Compiler do
 
   # Default rounding increment (not the same as rounding decimal
   # digits.  `0` means no rounding increment to be applied.
-  @default_rounding 0
+  @default_round_nearest 0
 
   @doc """
   Returns a number placeholder symbol.
@@ -359,7 +359,7 @@ defmodule Cldr.Number.Format.Compiler do
       exponent_sign: exponent_sign(format_parts),
       scientific_rounding: scientific_rounding(format_parts),
       grouping: grouping(format_parts),
-      rounding: rounding(format_parts),
+      round_nearest: round_nearest(format_parts),
       padding_length: padding_length(format[:positive][:pad], format),
       padding_char: padding_char(format),
       multiplier: multiplier(format),
@@ -712,19 +712,19 @@ defmodule Cldr.Number.Format.Compiler do
   # * In a pattern, digits '1' through '9' specify rounding, but otherwise
   #   behave identically to digit '0'.
 
-  defp rounding(%{"integer" => integer_format, "fraction" => fraction_format}) do
+  defp round_nearest(%{"integer" => integer_format, "fraction" => fraction_format}) do
     format =
       (integer_format <> @decimal_separator <> fraction_format)
       |> String.replace(@rounding_pattern, "")
       |> String.trim_trailing(@decimal_separator)
 
     case Float.parse(format) do
-      :error -> @default_rounding
+      :error -> @default_round_nearest
       {rounding, ""} -> rounding
     end
   end
 
-  defp rounding(_), do: @default_rounding
+  defp round_nearest(_), do: @default_round_nearest
 
   @doc """
   A regular expression that can be used to split either a number format
diff --git a/lib/cldr/number/format/meta.ex b/lib/cldr/number/format/meta.ex
index ab931aa..592560f 100644
--- a/lib/cldr/number/format/meta.ex
+++ b/lib/cldr/number/format/meta.ex
@@ -116,7 +116,7 @@ defmodule Cldr.Number.Format.Meta do
               fraction: %{first: 0, rest: 0},
               integer: %{first: 0, rest: 0}
             },
-            rounding: 0,
+            round_nearest: 0,
             padding_length: 0,
             padding_char: " ",
             multiplier: 1,
@@ -198,14 +198,14 @@ defmodule Cldr.Number.Format.Meta do
   end
 
   @doc """
-  Set the number of digits to which the number should
+  Set the increment to which the number should
   be rounded.
 
   """
-  @spec put_integer_digits(t(), non_neg_integer) :: t()
-  def put_rounding_digits(%__MODULE__{} = meta, digits) when is_integer(digits) do
+  @spec put_round_nearest_digits(t(), non_neg_integer) :: t()
+  def put_round_nearest_digits(%__MODULE__{} = meta, digits) when is_integer(digits) do
     meta
-    |> Map.put(:rounding, digits)
+    |> Map.put(:round_nearest, digits)
   end
 
   @doc """
diff --git a/lib/cldr/number/format/options.ex b/lib/cldr/number/format/options.ex
index df5ff50..bca98ab 100644
--- a/lib/cldr/number/format/options.ex
+++ b/lib/cldr/number/format/options.ex
@@ -23,7 +23,8 @@ defmodule Cldr.Number.Format.Options do
     :minimum_grouping_digits,
     :pattern,
     :rounding_mode,
-    :fractional_digits
+    :fractional_digits,
+    :round_nearest
   ]
 
   # These are the options that can be supplied
@@ -84,6 +85,7 @@ defmodule Cldr.Number.Format.Options do
     pattern: String.t(),
     rounding_mode: Decimal.rounding(),
     fractional_digits: pos_integer(),
+    round_nearest: pos_integer()
   }
 
   defstruct @options
@@ -384,6 +386,21 @@ defmodule Cldr.Number.Format.Options do
         ":fractional_digits must be a positive integer or nil. Found #{inspect other}"}}
   end
 
+  def validate_option(:round_nearest, _options, _backend, nil) do
+    {:ok, nil}
+  end
+
+  def validate_option(:round_nearest, _options, _backend, int)
+      when is_integer(int) and int > 0 do
+    {:ok, int}
+  end
+
+  def validate_option(:round_nearest, _options, _backend, other) do
+    {:error,
+      {ArgumentError,
+        ":round_nearest must be a positive integer or nil. Found #{inspect other}"}}
+  end
+
   def validate_option(:rounding_mode, _options, _backend, nil) do
     {:ok, :half_even}
   end
diff --git a/lib/cldr/number/formatter/decimal_formatter.ex b/lib/cldr/number/formatter/decimal_formatter.ex
index 37addbd..bdf63d7 100644
--- a/lib/cldr/number/formatter/decimal_formatter.ex
+++ b/lib/cldr/number/formatter/decimal_formatter.ex
@@ -66,6 +66,7 @@ defmodule Cldr.Number.Formatter.Decimal do
     |> adjust_fraction_for_currency(options.currency, options.currency_digits, backend)
     |> adjust_fraction_for_significant_digits(number)
     |> adjust_for_fractional_digits(options.fractional_digits)
+    |> adjust_for_round_nearest(options.round_nearest)
     |> Map.put(:number, number)
   end
 
@@ -154,12 +155,12 @@ defmodule Cldr.Number.Formatter.Decimal do
   # Round to nearest rounds a number to the nearest increment specified.  For example
   # if `rounding: 5` then we round to the nearest multiple of 5.  The appropriate rounding
   # mode is used.
-  def round_to_nearest(number, %{rounding: rounding}, _backend, %{rounding_mode: _rounding_mode})
+  def round_to_nearest(number, %{round_nearest: rounding}, _backend, %{rounding_mode: _rounding_mode})
       when rounding == 0 do
     number
   end
 
-  def round_to_nearest(%Decimal{} = number, %{rounding: rounding}, _backend, %{
+  def round_to_nearest(%Decimal{} = number, %{round_nearest: rounding}, _backend, %{
         rounding_mode: rounding_mode
       }) do
     rounding = Decimal.new(rounding)
@@ -170,7 +171,7 @@ defmodule Cldr.Number.Formatter.Decimal do
     |> Decimal.mult(rounding)
   end
 
-  def round_to_nearest(number, %{rounding: rounding}, _backend, %{rounding_mode: rounding_mode})
+  def round_to_nearest(number, %{round_nearest: rounding}, _backend, %{rounding_mode: rounding_mode})
       when is_float(number) do
     number
     |> Kernel./(rounding)
@@ -178,7 +179,7 @@ defmodule Cldr.Number.Formatter.Decimal do
     |> Kernel.*(rounding)
   end
 
-  def round_to_nearest(number, %{rounding: rounding}, _backend, %{rounding_mode: rounding_mode})
+  def round_to_nearest(number, %{round_nearest: rounding}, _backend, %{rounding_mode: rounding_mode})
       when is_integer(number) do
     number
     |> Kernel./(rounding)
@@ -705,7 +706,7 @@ defmodule Cldr.Number.Formatter.Decimal do
 
   def do_adjust_fraction(meta, digits, rounding) do
     rounding = power_of_10(-digits) * rounding
-    %{meta | fractional_digits: %{max: digits, min: digits}, rounding: rounding}
+    %{meta | fractional_digits: %{max: digits, min: digits}, round_nearest: rounding}
   end
 
   #
@@ -749,6 +750,7 @@ defmodule Cldr.Number.Formatter.Decimal do
   end
 
   # To allow overriding fractional digits
+  # This causes rounding of the number
   def adjust_for_fractional_digits(meta, nil) do
     meta
   end
@@ -757,6 +759,18 @@ defmodule Cldr.Number.Formatter.Decimal do
     %{meta | fractional_digits: %{max: digits, min: digits}}
   end
 
+  # To allow overriding round nearest
+  # which impacts the precision of the number
+  # and is commonly required for currency
+  # formatting
+  def adjust_for_round_nearest(meta, nil) do
+    meta
+  end
+
+  def adjust_for_round_nearest(meta, digits) do
+    %{meta | round_nearest: digits}
+  end
+
   @doc false
   def define_to_string(backend) do
     config = Module.get_attribute(backend, :config)
diff --git a/test/meta_test.exs b/test/meta_test.exs
index 7e066c8..1c7f9c8 100644
--- a/test/meta_test.exs
+++ b/test/meta_test.exs
@@ -17,7 +17,7 @@ defmodule Cldr.Number.Format.Meta.Test do
                number: 0,
                padding_char: " ",
                padding_length: 0,
-               rounding: 0,
+               round_nearest: 0,
                scientific_rounding: 0,
                significant_digits: %{max: 0, min: 0}
              }
@@ -41,7 +41,7 @@ defmodule Cldr.Number.Format.Meta.Test do
       |> Meta.put_exponent_digits(5)
       |> Meta.put_exponent_sign(true)
       |> Meta.put_scientific_rounding_digits(6)
-      |> Meta.put_rounding_digits(7)
+      |> Meta.put_round_nearest_digits(7)
       |> Meta.put_padding_length(8)
       |> Meta.put_padding_char("Z")
       |> Meta.put_multiplier(9)
@@ -49,7 +49,7 @@ defmodule Cldr.Number.Format.Meta.Test do
     assert meta.exponent_digits == 5
     assert meta.exponent_sign == true
     assert meta.scientific_rounding == 6
-    assert meta.rounding == 7
+    assert meta.round_nearest == 7
     assert meta.padding_length == 8
     assert meta.padding_char == "Z"
     assert meta.multiplier == 9