diff --git a/hledger/Hledger/Cli/Commands/Close.hs b/hledger/Hledger/Cli/Commands/Close.hs
index dfe662529..5057efed4 100755
--- a/hledger/Hledger/Cli/Commands/Close.hs
+++ b/hledger/Hledger/Cli/Commands/Close.hs
@@ -50,7 +50,7 @@ close CliOpts{rawopts_=rawopts, reportopts_=ropts} j = do
       openingdate = fromMaybe today $ queryEndDate False q
       closingdate = addDays (-1) openingdate
       (acctbals,_) = balanceReportFromMultiBalanceReport ropts_ q j
-      balancingamt = sum $ map (\(_,_,_,b) -> normaliseMixedAmount b) acctbals
+      totalbalancingamt = sum $ map (\(_,_,_,b) -> normaliseMixedAmount b) acctbals
 
       -- since balance assertion amounts are required to be exact, the
       -- amounts in opening/closing transactions should be too (#941, #1137)
@@ -69,7 +69,7 @@ close CliOpts{rawopts_=rawopts, reportopts_=ropts} j = do
                    if interleaved then
                    -- a corresponding posting transferring the above balance to equity
                    [posting{paccount = closingacct
-                           ,pamount  = Mixed [b]
+                           ,pamount  = Mixed [setprec b]
                            }
                    ]
                    else []
@@ -87,7 +87,7 @@ close CliOpts{rawopts_=rawopts, reportopts_=ropts} j = do
                   -- a final posting transferring all the balances to equity
                   -- (print will show it as multiple single-commodity postings)
                   [posting{paccount = closingacct
-                          ,pamount  = balancingamt
+                          ,pamount  = mapMixedAmount setprec totalbalancingamt
                           }
                   ]
 
@@ -102,7 +102,7 @@ close CliOpts{rawopts_=rawopts, reportopts_=ropts} j = do
                    if interleaved then
                    -- a corresponding posting transferring the above balance from equity
                    [posting{paccount = openingacct
-                           ,pamount  = Mixed [negate b]
+                           ,pamount  = Mixed [setprec $ negate b]
                            }
                    ]
                    else []
@@ -121,7 +121,7 @@ close CliOpts{rawopts_=rawopts, reportopts_=ropts} j = do
                   -- a final posting transferring all the balances from equity
                   -- (print will show it as multiple single-commodity postings)
                   [posting{paccount = openingacct
-                          ,pamount  = negate balancingamt
+                          ,pamount  = mapMixedAmount setprec $ negate totalbalancingamt
                           }
                   ]
 
diff --git a/tests/close.test b/tests/close.test
index de94a8f95..6d94dea0e 100644
--- a/tests/close.test
+++ b/tests/close.test
@@ -267,3 +267,36 @@ $ hledger -f- close -p 2016 assets liabilities --interleaved
 
 >=0
 
+# 10. A tricky case where a closing posting was rounded and failed to balance (#1164)
+<
+commodity $0.00
+commodity AAA 0.00000000
+
+2019-01-01 opening balance
+    (assets:usd)                                 $49.50
+
+2019-01-02 buy some AAA
+    assets:usd                                  -$49.2619200
+    assets:aaa                               AAA 510
+    assets:usd                                   -$0.1280810
+    expenses:banking                              $0.1280810
+
+$ hledger -f- close -p 2019 assets
+2019-12-31 closing balances
+    assets:aaa                              AAA -510.00000000 = AAA 0.00000000
+    assets:usd                                        $-49.50
+    assets:usd                 $49.390001 @ AAA 10.3528242505 = $0.00
+    equity:closing balances                            $49.50
+    equity:closing balances    $-49.390001 @ AAA 10.3528242505
+    equity:closing balances                  AAA 510.00000000
+
+2020-01-01 opening balances
+    assets:aaa                                AAA 510.00000000 = AAA 510.00000000
+    assets:usd                                          $49.50
+    assets:usd                 $-49.390001 @ AAA 10.3528242505 = $0.109999
+    equity:opening balances                            $-49.50
+    equity:opening balances     $49.390001 @ AAA 10.3528242505
+    equity:opening balances                  AAA -510.00000000
+
+>=0
+