Tuomas Suutari added the comment:

Eric V. Smith wrote:
> I'm not sure it needs fixing: it follows from the definition of using 
> Decimal(num) / Decimal(denom). Plus, it's controllable with a decimal context:

Hmm... Even though it's tempting to agree with you and just ignore the
precision bug, but to be honest I have to agree with Martin Panter
here. Depending on the current decimal context is not the way of
"Least Surprise" when formatting Fractions.

> For all of the tests, I suggest using format(value, str) instead of 
> ''.format(value). It more directly tests Fraction.__format__.

I agree. Will change those.

> In general I think adding Fraction.__format__ is a good idea, and I think 
> converting to Decimal is reasonable for the specified codes. My only question 
> is what to do when "natively" formatting Fractions themselves. We might want 
> to support field widths, padding, etc.

Thanks! Actually I already tried to support field widths, padding and
such. (See the test cases.) Or what do you mean?

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<http://bugs.python.org/issue23602>
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