diff -r fa745ed89b7a Lib/fractions.py
--- a/Lib/fractions.py	Thu Aug 23 15:53:45 2012 +0200
+++ b/Lib/fractions.py	Fri Aug 24 16:19:15 2012 -0500
@@ -208,6 +208,16 @@
         else:
             return cls(digits, 10 ** -exp)
 
+    def as_decimal(self, context=None):
+        """Returns a Decimal representation created using context, if
+        supplied.
+        """
+        from decimal import getcontext, localcontext
+        if context is None:
+            context = getcontext()
+        with localcontext(context):
+            return Decimal(self.numerator) / Decimal(self.denominator)
+
     def limit_denominator(self, max_denominator=1000000):
         """Closest Fraction to self with denominator at most max_denominator.
 
diff -r fa745ed89b7a Lib/test/test_fractions.py
--- a/Lib/test/test_fractions.py	Thu Aug 23 15:53:45 2012 +0200
+++ b/Lib/test/test_fractions.py	Fri Aug 24 16:19:15 2012 -0500
@@ -1,6 +1,6 @@
 """Tests for Lib/fractions.py."""
 
-from decimal import Decimal
+from decimal import Decimal, getcontext, localcontext
 from test.support import run_unittest, requires_IEEE_754
 import math
 import numbers
@@ -281,6 +281,24 @@
             TypeError, "Cannot convert sNaN to Fraction.",
             F.from_decimal, Decimal("snan"))
 
+    def testAsDecimal(self):
+        self.assertRaisesMessage(
+            TypeError, "optional argument must be a context",
+            F(1,3).as_decimal, 42)
+        with localcontext() as ctx:
+            ctx.prec = 2
+            self.assertEqual(F(1,3).as_decimal(ctx), Decimal('.33'))
+        self.assertEqual(F(F(1,3).as_decimal()).limit_denominator(), F(1,3))
+        context = getcontext()
+        for i in range(-10, 10):
+            if i == 0:
+                continue
+            self.assertAlmostEqual(
+                F(F(1, i).as_decimal()),
+                F(1, i),
+                places=context.prec)
+        self.assertEqual(F(4,16).as_decimal(), Decimal('.250'))
+
     def testLimitDenominator(self):
         rpi = F('3.1415926535897932')
         self.assertEqual(rpi.limit_denominator(10000), F(355, 113))