PHP How do I round down to two decimal places?

I need to round down a decimal in PHP to two decimal places so that:

49.955

becomes...

49.95

I have tried number_format, but this just rounds the value to 49.96. I cannot use substr because the number may be smaller (such as 7.950). I've been unable to find an answer to this so far.

Any help much appreciated.

This can work: floor($number * 100) / 100

Unfortunately, none of the previous answers (including the accepted one) works for all possible inputs.

1) sprintf('%1.'.$precision.'f', $val)

Fails with a precision of 2 : 14.239 should return 14.23 (but in this case returns 14.24).

2) floatval(substr($val, 0, strpos($val, '.') + $precision + 1))

Fails with a precision of 0 : 14 should return 14 (but in this case returns 1)

3) substr($val, 0, strrpos($val, '.', 0) + (1 + $precision))

Fails with a precision of 0 : -1 should return -1 (but in this case returns '-')

4) floor($val * pow(10, $precision)) / pow(10, $precision)

Although I used this one extensively, I recently discovered a flaw in it ; it fails for some values too. With a precision of 2 : 2.05 should return 2.05 (but in this case returns 2.04 !!)

So far the only way to pass all my tests is unfortunately to use string manipulation. My solution based on rationalboss one, is :

function floorDec($val, $precision = 2) {
    if ($precision < 0) { $precision = 0; }
    $numPointPosition = intval(strpos($val, '.'));
    if ($numPointPosition === 0) { //$val is an integer
        return $val;
    }
    return floatval(substr($val, 0, $numPointPosition + $precision + 1));
}

This function works with positive and negative numbers, as well as any precision needed.

Here is a nice function that does the trick without using string functions:

<?php
function floorp($val, $precision)
{
    $mult = pow(10, $precision); // Can be cached in lookup table        
    return floor($val * $mult) / $mult;
}

print floorp(49.955, 2);
?>

An other option is to subtract a fraction before rounding:

function floorp($val, $precision)
{
    $half = 0.5 / pow(10, $precision); // Can be cached in a lookup table
    return round($val - $half, $precision);
}