Table Contents Modification

I would like to modify a
varchar column (currency_varchar) in a
table (currency_Conversion)

example current values in column
$32.15
0.15
98.85
43215
6,644,232,121.42

Goal
Remove $ & Commas but leave other values alone.

Example pieces of code

update currency_conversion
set currency_varchar = cast (cast (currency_varchar as money)as varchar)
select * from currency_conversion
where substring (currency_varchar from 1 for 1) = '$' ;


or maybe

declare temp_table table (
temp_varchar varchar (30))
insert into temp_table select currency_varchar from currency_conversion
where substring (currency_varchar, 1,1) = '$'

update currency_conversion
set currency_varchar = cast (cast (temp_varchar as money)as varchar)

Let me know, i have done it in MSSQL but need to do it in

Mandrake Linux 9.1
Kernel version 2.4
Linux Postgres Sql version 7.3.2

Try using the regular expression functions.
Sorry but im still new to postgresql, so i cant give you a working example right now.