Decimal multiplication is one of the most frequent operations used by many financial, business and user-oriented applications but current implementations in FPGAs are very inefficient in terms of both area and latency when compared to binary multipliers. In this paper we present a new method for implementing BCD multiplication more efficiently than previous proposals in current FPGA devices with 6-input LUTs. In particular, a combinational implementation maps quite well into the slice structure of the Xilinx Virtex-5/Virtex-6 families and it is highly pipelineable. The synthesis results for a Virtex-6 device indicate that our proposal outperforms the area and latency figures of previous implementations in FPGAs.