In this paper, we propose a system for the recognizing the paper currency. This is based on interesting features extractions like colors of paper currencies and correlation between images. Depending on the color of the currency is grouped into three groups-red, green and blue. In this system we are including the new currency notes of Rs.500 and Rs.2000.For Identifying the new currency we develo...

Currency recognition is an important area of pattern recognition. A system for the recognition of currency is one kind of intelligent system which is a very important need of the current automation systems in the modern world of today. Currency Recognition and is implemented to reduce human power to automatically recognize the amount monetary value of currency and without human supervision. The...

We develop the first basic Operational Risk perspective on key risk management issues associated with the development of new forms of electronic currency in the real economy. In particular, we focus on understanding the development of new risks types and the evolution of current risk types as new components of financial institutions arise to cater for an increasing demand for electronic money, ...

An efficient currency recognition system is vital for the automation in many sectors such as vending machine, rail way ticket counter, banking system, shopping mall, currency exchange service etc. The paper currency recognition is significant for a number of reasons. a) They become old early than coins; b) The possibility of joining broken currency is greater than that of coin currency; c) Coin...

This paper investigates the interdependence of US dollar exchange rates expressed in other major currencies. Focusing on different phases of the Global financial crisis (GFC) and the Eurozone Sovereign Debt Crisis (ESDC), we adopt a dynamic conditional correlation model into a multivariate Fractionally Integrated Asymmetric Power ARCH (FIAPARCH) framework, during the period 2004–2011. The findi...

The ubiquity of loyalty programs has given rise to a multitude of new currencies (e.g., frequent flier miles, Hilton HHonors points, Diner’s Club “Club Rewards”) that people accrue, save and spend much like traditional paper money. Unlike cash, these alternative currencies are not perfectly fungible. In other words, they are neither universally accepted, nor can they be spent in any increment, ...

We use a spatial competition based model in a two-stage game setup to assess whether equilibrium in exchange rates among the leading currencies is attainable. We show that a stable equilibrium can be reached in the case of two leading currencies, but not in the case of three. In our model, central banks of leading currencies attract, through the workings of their objective and policy, small cur...

This paper studies crash risk of currencies for funding‐constrained speculators in an attempt to shed new light on the major currency puzzles. Our starting point is the currency carry trade, which consists of selling low interest rate currencies—“funding currencies”—and investing in high interest rate currencies—“investment currencies.” While the uncovered interest rate parity (UIP) hypothesize...

The purpose of research is focused on the insight into the future of Bitcoin on the financial situation, its implications and challenges. The problem of study is to investigate how to deal with a new type of digital currencies (such Bitcoin) that does not have a physical presence and there is no specific body to issue. Thus, this study aims to identify the nature of Bitcoin currency and what ar...

To examine whether the recent price patterns and transaction costs of Bitcoin represent a general characteristic of decentralized virtual currencies, we analyze virtual currencies in online games that have been voluntarily managed by individuals since 1990s. We find that matured game currencies have price stability similar to that of small size equities or gold, and their transaction costs are ...