diff --git a/oxrlib/commands/historical.py b/oxrlib/commands/historical.py
index e85569f20f5d8bf39b8fc3cd5edb82f22186ad31..0b0b58f39fe892b125bd8b9d6681dfc335212239 100644
--- a/oxrlib/commands/historical.py
+++ b/oxrlib/commands/historical.py
@@ -1,22 +1,99 @@
-from babel.numbers import format_currency
+import decimal
+import itertools
+import operator
+
+import babel.numbers
 
 from .. import rate as oxrrate
 
-CURRENCY_FMT = '#,##0.### ¤¤'
-RATE_FMT = '{from_amt:g} {from_curr} = {to_amt:g} {to_curr}'
+class Formatter:
+    def __init__(self, rate, signed_currencies=(), base_fmt='#,##0.###'):
+        self.rate = rate
+        self.base_fmt = base_fmt
+        self.base_fmt_noprec = base_fmt.rsplit('.', 1)[0]
+        self.signed_currencies = set(code for code in signed_currencies
+                                     if self.can_sign_currency(code))
+
+    def can_sign_currency(self, code):
+        return len(babel.numbers.get_currency_symbol(code)) == 1
+
+    def format_currency(self, amount, code, currency_digits=True):
+        if currency_digits:
+            fmt = self.base_fmt
+        else:
+            fmt = '{}.{}'.format(self.base_fmt_noprec, '#' * -amount.as_tuple().exponent)
+        if code in self.signed_currencies:
+            fmt = '¤' + fmt
+        else:
+            fmt = fmt + ' ¤¤'
+        return babel.numbers.format_currency(amount, code, fmt, currency_digits=currency_digits)
+
+    def format_rate(self, rate):
+        return "{:g}".format(rate)
+
+    def format_rate_pair(self, from_curr, to_curr):
+        from_amt = 1
+        to_amt = self.rate.convert(from_amt, from_curr, to_curr)
+        return "{} {} = {} {}".format(
+            self.format_rate(from_amt), from_curr,
+            self.format_rate(to_amt), to_curr,
+        )
+
+    def format_rate_pair_bidir(self, from_curr, to_curr, sep='\n'):
+        return "{}{}{}".format(
+            self.format_rate_pair(from_curr, to_curr),
+            sep,
+            self.format_rate_pair(to_curr, from_curr),
+        )
+
+    def format_conversion(self, from_amt, from_curr, to_curr):
+        to_amt = self.rate.convert(from_amt, from_curr, to_curr)
+        return "{} = {}".format(
+            self.format_currency(from_amt, from_curr),
+            self.format_currency(to_amt, to_curr),
+        )
+
 
-def format_conversion(rate, from_amt, from_curr, to_curr):
-    to_amt = rate.convert(from_amt, from_curr, to_curr)
-    return "{} = {}".format(
-        format_currency(from_amt, from_curr, CURRENCY_FMT),
-        format_currency(to_amt, to_curr, CURRENCY_FMT),
-    )
+class LedgerFormatter(Formatter):
+    RATE_PREC = 5
+
+    def normalize_rate(self, rate, prec=None):
+        # Return prec nonzero digits of precision, if available.
+        if prec is None:
+            prec = self.RATE_PREC
+        _, digits, exponent = rate.normalize().as_tuple()
+        prec -= min(0, exponent + len(digits))
+        quant_to = '1.{}'.format('0' * prec)
+        try:
+            qrate = rate.quantize(decimal.Decimal(quant_to))
+        except decimal.InvalidOperation:
+            # The original rate doesn't have that much precision, so use it raw.
+            qrate = rate
+        return qrate.normalize()
+
+    def format_rate(self, rate, prec=None):
+        return str(self.normalize_rate(rate, prec))
+
+    def format_ledger_rate(self, rate, curr, prec=None):
+        nrate = self.normalize_rate(rate, prec)
+        rate_s = self.format_currency(nrate, curr, currency_digits=False)
+        return "{{={0}}} @ {0}".format(rate_s)
+
+    def format_rate_pair(self, from_curr, to_curr):
+        from_amt = 1
+        to_amt = self.rate.convert(from_amt, from_curr, to_curr)
+        return "{} {} {}".format(
+            from_amt, from_curr, self.format_ledger_rate(to_amt, to_curr))
+
+    def format_conversion(self, from_amt, from_curr, to_curr):
+        to_rate = self.rate.convert(1, from_curr, to_curr)
+        to_amt = self.rate.convert(from_amt, from_curr, to_curr)
+        return "{} {}\n{}".format(
+            self.format_currency(from_amt, from_curr),
+            self.format_ledger_rate(to_rate, to_curr),
+            self.format_currency(to_amt, to_curr),
+        )
 
-def format_rate_pair(rate, from_curr, to_curr):
-    amt = rate.convert(1, from_curr, to_curr)
-    yield RATE_FMT.format(from_amt=1, from_curr=from_curr, to_amt=amt, to_curr=to_curr)
-    amt = rate.convert(1, to_curr, from_curr)
-    yield RATE_FMT.format(from_amt=1, from_curr=to_curr, to_amt=amt, to_curr=from_curr)
 
 def run(config, stdout, stderr):
     loaders = config.get_loaders()
@@ -24,14 +101,19 @@ def run(config, stdout, stderr):
         rate = oxrrate.Rate.from_json_file(rate_json)
     if loaders.should_cache():
         config.cache.save_rate(rate)
+    if config.args.ledger:
+        formatter = LedgerFormatter(rate, config.args.signed_currencies)
+    else:
+        formatter = Formatter(rate)
     if not config.args.from_currency:
         for from_curr in sorted(rate.rates):
-            print(*format_rate_pair(rate, from_curr, config.args.to_currency),
-                  sep='\n', file=stdout)
+            print(formatter.format_rate_pair_bidir(from_curr, config.args.to_currency),
+                  file=stdout)
     elif config.args.amount is None:
-        print(*format_rate_pair(rate, config.args.from_currency, config.args.to_currency),
-              sep='\n', file=stdout)
+        print(formatter.format_rate_pair_bidir(config.args.from_currency, config.args.to_currency),
+              file=stdout)
     else:
-        print(format_conversion(rate, config.args.amount,
-                                config.args.from_currency, config.args.to_currency),
+        print(formatter.format_conversion(config.args.amount,
+                                          config.args.from_currency,
+                                          config.args.to_currency),
               file=stdout)