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I've found this excellent question / answer on how localize a string with the users current currency settings... localize-currency-for-iphone

This is the code used...

NSDecimalNumber *someAmount = [NSDecimalNumber decimalNumberWithString:@"5.00"];
NSNumberFormatter *currencyFormatter = [[NSNumberFormatter alloc] init];
[currencyFormatter setNumberStyle:NSNumberFormatterCurrencyStyle];
NSLog(@"%@", [currencyFormatter stringFromNumber:someAmount]);

However, I need to convert this to a double so I can store it to my database?

EDIT: That should read I need to convert this back to a string without the currency formating, then convert it to a double.

A: 

Take the string and call the reverse method:

NSNumber* number = [currencyFormatter numberFromString:string];
Aviad Ben Dov