diff --git a/ICSharpCode.Decompiler/Ast/AstMethodBodyBuilder.cs b/ICSharpCode.Decompiler/Ast/AstMethodBodyBuilder.cs
index fe571a353..de2694415 100644
--- a/ICSharpCode.Decompiler/Ast/AstMethodBodyBuilder.cs
+++ b/ICSharpCode.Decompiler/Ast/AstMethodBodyBuilder.cs
@@ -531,6 +531,7 @@ namespace Decompiler
 				case Code.Ldc_I8:
 				case Code.Ldc_R4:
 				case Code.Ldc_R8:
+				case (Code)ILCode.Ldc_Decimal:
 					return new Ast.PrimitiveExpression(operand);
 				case Code.Ldfld:
 					if (arg1 is DirectionExpression)
diff --git a/ICSharpCode.Decompiler/ILAst/ILCodes.cs b/ICSharpCode.Decompiler/ILAst/ILCodes.cs
index 4871d0f40..076fa0627 100644
--- a/ICSharpCode.Decompiler/ILAst/ILCodes.cs
+++ b/ICSharpCode.Decompiler/ILAst/ILCodes.cs
@@ -262,6 +262,7 @@ namespace Decompiler
 		TernaryOp, // ?:
 		LoopBreak,
 		LoopContinue,
+		Ldc_Decimal,
 		
 		Pattern // used for ILAst pattern nodes
 	}
diff --git a/ICSharpCode.Decompiler/ILAst/PeepholeTransform.cs b/ICSharpCode.Decompiler/ILAst/PeepholeTransform.cs
index d1fd94012..50d8ae898 100644
--- a/ICSharpCode.Decompiler/ILAst/PeepholeTransform.cs
+++ b/ICSharpCode.Decompiler/ILAst/PeepholeTransform.cs
@@ -4,6 +4,7 @@
 using System;
 using System.Linq;
 using ICSharpCode.NRefactory.Utils;
+using Mono.Cecil;
 
 namespace Decompiler
 {
@@ -16,29 +17,93 @@ namespace Decompiler
 	{
 		public static void Run(DecompilerContext context, ILBlock method)
 		{
-			// TODO: move this somewhere else
-			// Eliminate 'dups':
-			foreach (ILExpression expr in method.GetSelfAndChildrenRecursive<ILExpression>()) {
-				for (int i = 0; i < expr.Arguments.Count; i++) {
-					if (expr.Arguments[i].Code == ILCode.Dup)
-						expr.Arguments[i] = expr.Arguments[i].Arguments[0];
-				}
-			}
-			
-			PeepholeTransform[] transforms = {
+			PeepholeTransform[] blockTransforms = {
 				ArrayInitializers.Transform(method)
 			};
+			Func<ILExpression, ILExpression>[] exprTransforms = {
+				EliminateDups,
+				HandleDecimalConstants
+			};
 			// Traverse in post order so that nested blocks are transformed first. This is required so that
 			// patterns on the parent block can assume that all nested blocks are already transformed.
-			foreach (var block in TreeTraversal.PostOrder<ILNode>(method, c => c != null ? c.GetChildren() : null).OfType<ILBlock>()) {
-				// go through the instructions in reverse so that
-				for (int i = block.Body.Count - 1; i >= 0; i--) {
-					context.CancellationToken.ThrowIfCancellationRequested();
-					foreach (var t in transforms) {
-						t(block, ref i);
+			foreach (var node in TreeTraversal.PostOrder<ILNode>(method, c => c != null ? c.GetChildren() : null)) {
+				ILBlock block = node as ILBlock;
+				ILExpression expr;
+				if (block != null) {
+					// go through the instructions in reverse so that transforms can build up nested structures inside-out
+					for (int i = block.Body.Count - 1; i >= 0; i--) {
+						context.CancellationToken.ThrowIfCancellationRequested();
+						expr = block.Body[i] as ILExpression;
+						if (expr != null) {
+							// apply expr transforms to top-level expr in block
+							foreach (var t in exprTransforms)
+								expr = t(expr);
+							block.Body[i] = expr;
+						}
+						// apply block transforms
+						foreach (var t in blockTransforms) {
+							t(block, ref i);
+						}
+					}
+				}
+				expr = node as ILExpression;
+				if (expr != null) {
+					// apply expr transforms to all arguments
+					for (int i = 0; i < expr.Arguments.Count; i++) {
+						ILExpression arg = expr.Arguments[i];
+						foreach (var t in exprTransforms)
+							arg = t(arg);
+						expr.Arguments[i] = arg;
+					}
+				}
+			}
+		}
+		
+		static ILExpression EliminateDups(ILExpression expr)
+		{
+			if (expr.Code == ILCode.Dup)
+				return expr.Arguments.Single();
+			else
+				return expr;
+		}
+		
+		static ILExpression HandleDecimalConstants(ILExpression expr)
+		{
+			if (expr.Code == ILCode.Newobj) {
+				MethodReference r = (MethodReference)expr.Operand;
+				if (r.DeclaringType.Name == "Decimal" && r.DeclaringType.Namespace == "System") {
+					if (expr.Arguments.Count == 1) {
+						int? val = GetI4Constant(expr.Arguments[0]);
+						if (val != null) {
+							expr.Arguments.Clear();
+							expr.Code = ILCode.Ldc_Decimal;
+							expr.Operand = new decimal(val.Value);
+							expr.InferredType = r.DeclaringType;
+						}
+					} else if (expr.Arguments.Count == 5) {
+						int? lo = GetI4Constant(expr.Arguments[0]);
+						int? mid = GetI4Constant(expr.Arguments[1]);
+						int? hi = GetI4Constant(expr.Arguments[2]);
+						int? isNegative = GetI4Constant(expr.Arguments[3]);
+						int? scale = GetI4Constant(expr.Arguments[4]);
+						if (lo != null && mid != null && hi != null && isNegative != null && scale != null) {
+							expr.Arguments.Clear();
+							expr.Code = ILCode.Ldc_Decimal;
+							expr.Operand = new decimal(lo.Value, mid.Value, hi.Value, isNegative.Value != 0, (byte)scale);
+							expr.InferredType = r.DeclaringType;
+						}
 					}
 				}
 			}
+			return expr;
+		}
+		
+		static int? GetI4Constant(ILExpression expr)
+		{
+			if (expr != null && expr.Code == ILCode.Ldc_I4)
+				return (int)expr.Operand;
+			else
+				return null;
 		}
 	}
 }
diff --git a/ICSharpCode.Decompiler/ILAst/TypeAnalysis.cs b/ICSharpCode.Decompiler/ILAst/TypeAnalysis.cs
index 31082f7f9..8f234ba7b 100644
--- a/ICSharpCode.Decompiler/ILAst/TypeAnalysis.cs
+++ b/ICSharpCode.Decompiler/ILAst/TypeAnalysis.cs
@@ -303,6 +303,9 @@ namespace Decompiler
 					return typeSystem.Single;
 				case ILCode.Ldc_R8:
 					return typeSystem.Double;
+				case ILCode.Ldc_Decimal:
+					Debug.Assert(expr.InferredType != null && expr.InferredType.FullName == "System.Decimal");
+					return expr.InferredType;
 				case ILCode.Ldtoken:
 					if (expr.Operand is TypeReference)
 						return new TypeReference("System", "RuntimeTypeHandle", module, module, true);