Currency Recognition System Using Image Processing: Libyan Banknote as a Case Study

Banknote recognition in the field of image processing is used to distinguish between banknotes of different countries and determine their values. One of the problems that emerged with this process is the recognization of the banknote. The recognition operations for Myanmar currency denominations comprise six stages: image capturing, preprocessing, target region extraction, number segmentation, currency value recognition, and output with screen displaying and voice. The currency recognition system is implemented by comparing the similarity of each banknote value template via image processing steps in the Matlab environment. To prove the effectiveness of the proposed system, the number of banknote images with two types (new and medium) from each of the four types of denominations were tried.