Yes, but not always :-) depending on the formatting being done, eg
SQL> select
2 to_char(12.3,'999.99') x1,
3 to_char(12.3,'999.00') x2,
4 to_char(12.3,'FM999.99') x3,
5 to_char(12.3,'FM999.00') x4
6 from dual;
X1 X2 X3 X4
------- ------- ------- -------
12.30 12.30 12.3 12.30
1 row selected.