diff --git a/CHANGELOG.md b/CHANGELOG.md
index e0658d4..e5f8823 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,6 +1,8 @@
 ## 0.16.2
  * Fix bug with dates in January being treated as ordinal. e.g. 2020-01-32 would
    be accepted as valid and the day treated as day-of-year.
+ * Compact currency formats will avoid displaying unecessary trailing zeros
+   in compact formats for currencies which specify decimal places.
 
 ## 0.16.1
  * Add an analysis_options.yaml and fix or suppress all the complaints from it.
diff --git a/lib/intl.dart b/lib/intl.dart
index 102e2dc..7116d5f 100644
--- a/lib/intl.dart
+++ b/lib/intl.dart
@@ -174,7 +174,7 @@
   @pragma('dart2js:tryInline')
   // We want dart2js to try to inline these messages, but not inline the
   // internal messages, so it will eliminate the descriptions and other
-  // information not needed at runtime.
+  // information not neeeded at runtime.
   static String message(String messageText,
           {String desc = '',
           Map<String, Object> examples,
diff --git a/lib/src/intl/compact_number_format.dart b/lib/src/intl/compact_number_format.dart
index d696685..38b05f9 100644
--- a/lib/src/intl/compact_number_format.dart
+++ b/lib/src/intl/compact_number_format.dart
@@ -244,8 +244,8 @@
 
   String format(number) {
     _style = _styleFor(number);
-    var divisor = _style.printsAsIs ? 1 : _style.divisor;
-    var numberToFormat = _divide(number, divisor);
+    final divisor = _style.printsAsIs ? 1 : _style.divisor;
+    final numberToFormat = _divide(number, divisor);
     var formatted = super.format(numberToFormat);
     var prefix = _style.prefix;
     var suffix = _style.suffix;
@@ -259,7 +259,7 @@
       prefix = prefix.replaceFirst('\u00a4', currencySymbol);
       suffix = suffix.replaceFirst('\u00a4', currencySymbol);
     }
-    var withExtras = '$prefix$formatted$suffix';
+    final withExtras = '$prefix$formatted$suffix';
     _style = null;
     return withExtras;
   }
@@ -267,7 +267,7 @@
   /// How many digits after the decimal place should we display, given that
   /// there are [remainingSignificantDigits] left to show.
   int _fractionDigitsAfter(int remainingSignificantDigits) {
-    var newFractionDigits =
+    final newFractionDigits =
         super._fractionDigitsAfter(remainingSignificantDigits);
     // For non-currencies, or for currencies if the numbers are large enough to
     // compact, always use the number of significant digits and ignore
@@ -284,6 +284,19 @@
     }
   }
 
+  /// Defines minimumFractionDigits based on current style being formatted.
+  @override
+  int get minimumFractionDigits {
+    if (!_isForCurrency ||
+        !significantDigitsInUse ||
+        _style == null ||
+        _style.isFallback) {
+      return super.minimumFractionDigits;
+    } else {
+      return 0;
+    }
+  }
+
   /// Divide numbers that may not have a division operator (e.g. Int64).
   ///
   /// Only used for powers of 10, so we require an integer denominator.
diff --git a/test/number_format_compact_test.dart b/test/number_format_compact_test.dart
index c89aa6a..91bf801 100644
--- a/test/number_format_compact_test.dart
+++ b/test/number_format_compact_test.dart
@@ -67,6 +67,7 @@
   testCurrency('en_US', 12, r'$12.00', r'$10');
   testCurrency('en_US', 12.3, r'$12.30', r'$10');
   testCurrency('en_US', 123, r'$123', r'$100');
+  testCurrency('en_US', 1000, r'$1K', r'$1K');
   testCurrency('en_US', 1234, r'$1.23K', r'$1K');
   testCurrency('en_US', 12345, r'$12.3K', r'$10K');
   testCurrency('en_US', 123456, r'$123K', r'$100K');