This paper proposes a new feature extraction technique for paper currency recognition. In this technique, the texture characteristic is used in the recognition. The Markov chain concept has been employed to model the texture of paper currencies as a random process. The method proposed in this paper can be used for recognizing paper currencies from different countries. In this method only intact...

Digital currencies, virtual currencies, in-game currencies, etc., have gathered a lot of attention, despite the difficulties of definition, from all corners of society for many years. Cryptocurrency has gained unprecedented attention since the birth of Bitcoin in 2009. Bitcoin is an online system of making and receiving payments in bitcoins. The system distinguishes itself by providing an opens...

There has been little evidence to support the use of commodity-currency cross-hedges (Demaskey and Pearce, 1998; Benet, 1990; Eaker and Grant, 1987). However, this paper shows that if currencies can be defined as commodity currencies, as per Chen and Rogoff (2003) and Cashin, spedes and Sahay (2002), commoditycurrency cross-hedges are effective and beneficial. Two commodity currencies, the Papu...

Many pricing and risk management models need credit spread curves as an input. Given the small number of bonds outstanding per issuer the estimation of credit spread curves is not trivial in the corporate bond market. To ensure a sufficient number of bonds for the estimation procedure in many cases bonds in different currencies have to be used which implies that the estimation procedure has to ...

The rising popularity of loyalty programs and related marketing promotions has resulted in the introduction of a number of new currencies (e.g., frequent flier miles, Hilton HHonors points, Diner’s Club “Club Rewards”) that people accumulate, budget, save and spend much like traditional paper money. As consumers are increasingly able to pay for goods and services such as airline travel, hotel s...

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...

The internet era has generated a requirement for low cost, anonymous and rapidly verifiable transactions to be used for online barter, and fast settling money have emerged as a consequence. For the most part, e-money has fulfilled this role, but the last few years have seen two new types of money emerge. Centralised virtual currencies, usually for the purpose of transacting in social and gaming...

Correlation matrices of foreign exchange rate time series are investigated for 60 world currencies. Minimal Spanning Tree (MST) graphs for the gold, silver and platinum are presented. Inverse power like scaling is discussed for these graphs as well as for four distinct currency groups (major, liquid, less liquid and non-tradable). The worst scaling has been found for USD and related currencies.