Currency Recognition and Calculation System using Machine Learning Techniques

Abstract

Different currencies are being processed in money exchange shops and banks around the globe on a daily basis, where money exchange and transfer takes place. Identifying different currency is a difficult task and can lead to financial loss. There are approximately 180 currencies being used around the world, and each of them differ in color, size and texture. Thus, to correctly identify different currencies, a currency recognition systems needs to be designed. In this paper, we propose the design of an AlexNet based currency recognition system to recognize different international currency notes. We use 10-fold Cross Validation to obtain the cross-validation results of the AlexNet model. The features for the Alex model is extracted from the images back and front of each currency note. We also explore and implement deep learning models to compare the performance of the AlexNet model.