According to embodiments of the subject matter disclosed in this application, decimal floating-point multiplications and/or decimal fixed-point multiplications may be implemented using existing hardware for binary number operations. The implementation can be carried out in software, in hardware, or in a combination of software and hardware. Pre-calculated constants that are approximations to negative powers of 10 and stored in binary format may be used for rounding multiplication results to a designated precision by multiplying the results with a pre-calculated constant. Additionally, several parts of a decimal multiplication may be carried out in parallel. Furthermore, a simple comparison with a constant instead of an expensive remainder calculation may be used for midpoint detection and exactness determination.