code: public function formatNumber($number, $precision = 2)
      {
          $locale = Mage::app()->getLocale()->getLocale();
          return Zend_Locale_Format::toNumber($number, array('locale' => $locale, 'precision' => $precision));
      }
docs: Returns specified number formatted based on current locale
  
  @param     $number
  @param int $precision
  @return string
  @throws Zend_Locale_Exception