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  • Currency Convertor: 1.abstract

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    USHASI BANERJEE
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    This document describes the development of a currency conversion system using image processing and neural networks. The system aims to automatically recognize currency amounts and convert between major world currencies like USD, INR, AUD, etc. without human involvement. It works by extracting data from currency images using digital image processing and recognizing the amounts using a trained neural network. The system was developed successfully and provides a simple way to convert currencies with less stress than manual methods. There is potential to expand it to more currencies and provide additional features.

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    Currency Convertor

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    This document describes the development of a currency conversion system using image processing and neural networks. The system aims to automatically recognize currency amounts and convert between major world currencies like USD, INR, AUD, etc. without human involvement. It works by extracting data from currency images using digital image processing and recognizing the amounts using a trained neural network. The system was developed successfully and provides a simple way to convert currencies with less stress than manual methods. There is potential to expand it to more currencies and provide additional features.

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    © All Rights Reserved
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    3K views6 pages

    Currency Convertor: 1.abstract

    Uploaded by

    USHASI BANERJEE
    This document describes the development of a currency conversion system using image processing and neural networks. The system aims to automatically recognize currency amounts and convert between major world currencies like USD, INR, AUD, etc. without human involvement. It works by extracting data from currency images using digital image processing and recognizing the amounts using a trained neural network. The system was developed successfully and provides a simple way to convert currencies with less stress than manual methods. There is potential to expand it to more currencies and provide additional features.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 6

    CURRENCY CONVERTOR

    1.ABSTRACT:
    There are around 200+ different currencies used in different countries
    around the world. Conversion from one currency to another is very
    important, especially when it comes to marketing ad travel. Currency
    conversion system is implemented to reduce human power to automatically
    recognize the amount monetary value of currency and convert it into the
    other currencies without human supervision. The software interface that we
    are proposing here could be used for various currencies.
    Many a times, the stress and brain work required for manual currency
    conversion is much. Sometimes currency notes are blurry or damaged; many
    of them have complex designs to enhance security. This makes the task of
    currency recognition very difficult. So, it becomes very important to select
    the right features and proper algorithm for this purpose. The basic
    requirements of an algorithm to be considered as practically implementable
    are simplicity, less complexity, high speed and efficiency.

    2. INTRODUCTION:
    2.1.  Definition of Terms:
    Currency: Money or any item used for exchange of goods and services and
    facilitates transactions.

    Conversion: The act of bringing out an equivalent of one commodity in


    another commodity.

    3. OBJECTIVE:

    The main objective of the study is to develop a currency converter for major
    countries in the world. The countries to be used here are Indian Rupees
    (INR), Australian Dollar (AUD), Euro (EUR), Nigerian Naira (NGN) and US
    Dollar (USD). To achieve this objective, specific objectives are laid out which
    include:

    I. Develop a system which able to convert between the currencies mentioned


    above
    II. A system in which an exchange rate for any particular currency can be
    stored and used in conversion between the correspondent currency.

    III. Develop the program that can determined the amount of paper currency
    using neural network.

    IV. Extract the data from the currency image by using digital image
    processing toolbox.

    4. AIM OF THIS PROJECT:

    The aim of this project is to develop a currency recognition and converter


    system by using image processing and neural network.

    The system will be able to recognize the currency amount, integrate


    hardware and software, extract the data from the currency image by using
    digital image processing toolbox, accept and store an exchange rate for
    conversion between currencies.

    5. WORKING PROBLEMS:

    Currently, human is needed to recognize the amount of the currency and to


    convert it manually. This is stressful especially to people who aren’t so
    smart in calculations. So, this project is developed to replace human power
    to recognize the amount of the currency.

    Currency Recognition and converter system is implemented to reduce


    human power to automatically recognize the amount of currency and
    convert it into the other currency without human supervision.

    6. FLOW DIAGRAM:
    In the below diagram, the Currency Exchange Service uses JPA to talk to the
    database and returns the exchange value of the specific currency. For
    example, USD to INR conversion.

    When we invoke Currency Exchange Service, we need to pass two


    parameters: from (convert from), and to (convert to). For example, if we
    want to convert currency from USD to INR.

    The currency exchange service will return what the conversion multiple is.
    The conversion multiple means 1 USD is equal to 72 INR. The currency
    converter service uses a currency exchange service. Suppose the currency
    converter service wants to convert 100 USD to INR. So, it will call the
    currency exchange service and will convert the specified amount that we
    have provided in the path parameter.

    7. FLOWCHART:
     Step1: start
     Step2: Enter the amount value
     Step 3: Select the currency from and to
     Step 4: click on the converter button
     Step 5: The value will be displayed
     Step 6: Exit
    8. Internationalizing Currency:
    As we have internationalized the date, time and numbers, we can
    internationalize the currency also. The currency differs from one country to
    another so we need to internationalize the currency.

    The NumberFormat class provides methods to format the currency


    according to the locale. The getCurrencyInstance () method of the
    NumberFormat class returns the instance of the NumberFormat class.

    The syntax of the getCurrencyInstance () method is given below:

    public static NumberFormat getCurrencyInstance (Locale locale)  

    In this example, we are internationalizing the currency. The format method


    of the NumberFormat class formats the double value into the locale specific
    currency.

    9.SOURCE CODE:
    10.FUTURE SCOPE:

     Global market remuneration


     Overall projected growth rate
     Industry trends
     Competitive scope
     Product range
     Application landscape
     Supplier analysis
     Marketing channel trends – Now and later
     Sales channel evaluation
     Market Competition Trend
     Market Concentration Rate

    11.REASONS OF HAVING HIGHER SCOPES:

    • This report provides pin-point analysis for changing competitive


    dynamics.
    • It provides a forward looking perspective on different factors driving or
    restraining market growth.
    • It provides a six-year forecast assessed on the basis of how the market is
    predicted to grow.
    • It helps in understanding the key product segments and their future.
    • It helps in making informed business decisions by having complete
    insights of market and by making in-depth analysis of market segments.
     The impact of the COVID-19 pandemic sending exchange rates upside
    down, companies realized there’s a hidden danger to not managing their
    currency exchange risk. So, all these factors would supply the growth of
    currency exchange system(software).
    12. EXPERIMENTAL RESULTS:
    Results turned out to be successfully and the project is fully functional as
    all the methods are working fine.

    13. CONCLUSION:
    The project involves a good knowledge of java programming language.
    Currency converter that the people are using, they will always find ways to
    get the highest profit out of the exchanges. To those who are going to travel,
    it is a wise thing to check the different foreign exchange options they have
    beforehand.

    Therefore, currency converter is developed and used for knowing the


    currency’s values. It can be further developed by including more currency
    options, and by shown currency value table for the user.

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