Unable To Apply Dataformat String To Bound Columns Of Datagrid Generated Dynamically

following is sample code i am trying to make work. i want to apply formatting to datagrid column "price" i want price to be shown in currency format

Dim bColumn As BoundColumn
bColumn = New BoundColumn
bColumn.HeaderText = "name"
bColumn.DataField = "name"
dgBizDocs.Columns.Add(bColumn)
bColumn = New BoundColumn
bColumn.HeaderText = "price"
bColumn.DataField = "price"
bColumn.DataFormatString = "{0:C}" ' already tried following "{0:#,##0.00}"
dgBizDocs.Columns.Add(bColumn)
Dim dt As New DataTable
dt.Columns.Add("name")
dt.Columns.Add("price")
Dim dr As DataRow
dr = dt.NewRow
dr("name") = "ABC"
dr("price") = 1232100.53
dt.Rows.Add(dr)
dr = dt.NewRow
dr("name") = "ABC"
dr("price") = 123123.32
dt.Rows.Add(dr)
dt.AcceptChanges()
dgBizDocs.DataSource = dt
dgBizDocs.DataBind()

what am i doing wrong ?