Sure Arnold. Instead of a particular formula, you can use this script, which is a perfect program for converting numerical currency into words. Here we go...
Steps to Convert Numerical Currency into Words in Excel
1. Start Microsoft Excel.
2. Press ALT+F11 to start the Visual Basic Editor.
3. On the Insert menu, click Module.
Type the following code into the module sheet.
Option Explicit
'Main Function
Function INRSpell(ByVal MyNumber)
Dim Rupees, Paise, Temp
Dim DecimalPlace, Count
ReDim Place(9) As String
Place(2) = "Thousand "
Place(3) = "Lakh "
Place(4) = "Crore "
'String representation of the amount.
MyNumber = Trim(Str(MyNumber))
'Position of the decimal place 0 if none.
DecimalPlace = InStr(MyNumber, ".")
'Convert Paise and set MyNumber to the dollar amount.
If DecimalPlace > 0 Then
Pa ise = GetTens(Left(Mid(MyNumber, DecimalPlace + 1) & "00", 2))
My Number = Trim(Left(MyNumber, DecimalPlace - 1))
End If
Count = 1
Do While MyNumber <> ""
  ;If Count <> 1 Then
&n bsp; Temp = GetHundreds(Right(MyNumber, 2))
&n bsp; If Temp <> "" Then Rupees = Temp & Place(Count) & Rupees
&n bsp; If Len(MyNumber) > 2 Then
&n bsp; MyNu mber = Left(MyNumber, Len(MyNumber) - 2)
&n bsp; Else
&n bsp; MyNu mber = ""
&n bsp; End If
El se
&n bsp; Temp = GetHundreds(Right(MyNumber, 3))
&n bsp; If Temp <> "" Then Rupees = Temp & Place(Count) & Rupees
&n bsp; If Len(MyNumber) > 3 Then
&n bsp; MyNu mber = Left(MyNumber, Len(MyNumber) - 3)
&n bsp; Else
&n bsp; MyNu mber = ""
&n bsp; End If
En d If
Co unt = Count + 1
Loop
Select Case Rupees
Ca se ""
&n bsp; Rupees = " "
Ca se "One"
&n bsp; Rupees = "Re One "
Ca se Else
&n bsp; Rupees = "Rupees " & Rupees
End Select
Select Case Paise
Ca se ""
&n bsp; Paise = " Zero Paise "
Ca se "One"
&n bsp; Paise = " and Paise One"
Ca se Else
&n bsp; Paise = "Paise " & Paise
End Select
If Rupees <> " " Then Paise = " and " & Paise
INRSpell = " [ " & Rupees & Paise & " Only ] "
End Function
'Converts a number from 100-999 into text
Function GetHundreds(ByVal MyNumber)
Dim Result As String
If Val(MyNumber) = 0 Then Exit Function
MyNumber = Right("000" & MyNumber, 3)
'Convert the hundreds place.
If Mid(MyNumber, 1, 1) <> "0" Then
Re sult = GetDigit(Mid(MyNumber, 1, 1)) & " Hundred "
End If
'Convert the tens and ones place.
If Mid(MyNumber, 2, 1) <> "0" Then
Re sult = Result & GetTens(Mid(MyNumber, 2))
Else
Re sult = Result & GetDigit(Mid(MyNumber, 3))
End If
GetHundreds = Result
End Function
'Converts a number from 10 to 99 into text.
Function GetTens(TensText)
Dim Result As String
Result = "" ' Null out the temporary function value.
If Val(Left(TensText, 1)) = 1 Then ' If value between 10-19...
Se lect Case Val(TensText)
&n bsp; Case 10: Result = "Ten"
&n bsp; Case 11: Result = "Eleven"
&n bsp; Case 12: Result = "Twelve"
&n bsp; Case 13: Result = "Thirteen"
&n bsp; Case 14: Result = "Fourteen"
&n bsp; Case 15: Result = "Fifteen"
&n bsp; Case 16: Result = "Sixteen"
&n bsp; Case 17: Result = "Seventeen"
&n bsp; Case 18: Result = "Eighteen"
&n bsp; Case 19: Result = "Nineteen"
Ca se Else
En d Select
Else
  ;' If value between 20-99...
Se lect Case Val(Left(TensText, 1))
&n bsp; Case 2: Result = "Twenty "
&n bsp; Case 3: Result = "Thirty "
&n bsp; Case 4: Result = "Forty "
&n bsp; Case 5: Result = "Fifty "
&n bsp; Case 6: Result = "Sixty "
&n bsp; Case 7: Result = "Seventy "
&n bsp; Case 8: Result = "Eighty "
&n bsp; Case 9: Result = "Ninety "
Ca se Else
En d Select
Re sult = Result & GetDigit(Right(TensText, 1)) ' Retrieve ones place.
End If
GetTens = Result
End Function
'Converts a number from 1 to 9 into text.
Function GetDigit(Digit)
Select Case Val(Digit)
Ca se 1: GetDigit = "One"
Ca se 2: GetDigit = "Two"
Ca se 3: GetDigit = "Three"
Ca se 4: GetDigit = "Four"
Ca se 5: GetDigit = "Five"
Ca se 6: GetDigit = "Six"
Ca se 7: GetDigit = "Seven"
Ca se 8: GetDigit = "Eight"
Ca se 9: GetDigit = "Nine"
Ca se Else: GetDigit = ""
End Select
End Function