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Advanced Math/Foreign Currency Exchange Feature within Remote Banking.


Foreign Exchange
Foreign Exchange  
Automated Teller Machine
Automated Teller Machi  
QUESTION: Dear Prof Scott

Can Foreign Currency Exchange Program Feature be integrated within Automated Teller Machine ?. This features will be available only with Bank ATMS who are offering foreign currency exchange facility. Customer should have valid banking account with the Bank.

For this case to work, foreign currency notes to be deposited within the ATM System along with the Local currency notes of the country.

Example :

Banking Customer wants foreign currency exchange for Rs 20,000 in Euros.

Steps :

1. A menu link "Foreign Currency Exchange" is displayed to the Bank Account Holder once he/she is authenticated by the ATM System.

2. Different Exchange Currency conversions are available to the Customer. Examples : INR/EURO, INR/US Dollar, INR/GBP, INR/Yen etc.

Customer Selects INR/EURO link. System prompts for entering Rupees
to be converted. Customer enters Rs 20,000. After Entering Rs 20,000 the ATM System calculates the Current Exchange Rate by connecting to the Bank and displays 278 Euros. System also verifies
whether Balance amount Rs 20,000 is available. System prompts for entering Rs 20,000 in a deposit envelope. Customer deposits Rs 20000 within the ATM Machine. ATM System gives the Bank customer
278 Euros from withdrawal slot. The Balance amount, Successful Transaction Hard copy is displayed to the Bank Customer.

If this feature is integrated within the ATM, Can it have Financial security concerns for the Bank account holders as well as Banks ?

Note :

INR = Indian Rupees.

Awaiting your reply,

Thanks & Regards,
Prashant S Akerkar

ANSWER: The security concerns for most coutries aren't changing currency from one for to another,
but are a matter of export and import.  If a country exports more than it imports, that helps the economy of that nation.  If a country has exports less than it imports, that hurys the economy of that nation.

All changing capital from one form to another does is let the people by merchandise in another country.  When currency is changed by the bank, the bank makes money since there is always a slight fee that occurs.

For example, if $100 was changed to yet at a bank, and then changed back again, that might work out to only $90 or so as the bank could have a 5% processing fee each way to change it
(Maybe more, maybe less, since I have never exchanged currency).

To see how much currency changed hands lately,
is a good spot to look.  I believe the symbols are
AUD   Australian Dollar
CAD   Canadian Dollar
CHF   Chines Franc
CNY   Canadian Yen
EUR   European Euro
GBP   Great Britain Pound
JPY   Japanese Yen
USD   United States Dollar

---------- FOLLOW-UP ----------

Automated Teller Machine
Automated Teller Machi  
QUESTION: Dear Prof Scott

Thank you.

Is this a Complex function to achieve within the ATM System ?

Segregation of Different currencies kept in different drawers and assigned a Number to each Box within the ATM System.

For example :

GBP : 2
Euros : 3
Yen : 4
Australian Dollars : 5
Indian Rupees : 6
Singapore Dollars : 7
Yuan : 8


A Sensor / barcode / rfid or any other receiver device assigned to each Currency box.

Once the Banking customer selects for example INR/EUR i.e for EURO Currency, this touch screen transmitted signal send/selected from the ATM Menu should be captured as 3 by the Receiver Box device, the "EUROS" Led Sensor Box should get activated while other boxes will remain in deactivated state.
The user should receive cash only from Box 3 i.e. EUROS. A Lifting mechanism for each cash withdrawal drawer box to be designed for implementing the path to ATM Cash Withdrawal Outlet Door.

Mixing of all different countries currency notes within a single cash drawer box and then segregating the currency notes may be a complex function to achieve.

Awaiting your reply,

Thanks & Regards,
Prashant S Akerkar

As far as the intake of currency from various countries, it might be useful to have one box for the country the machine is in and one box for foreign currency.  If the area that the machine was in had more then one type of popular currency, it would be good to have more than one box.

The only problem might be that the rates sometimes vary erratically between countries, and if someone had foreknowledge of this or could predict it accurately, they might use the money box to make money by changing currency from one country to another.

For example, if they knew the price today was 1a for 2b, and the price tomorrow would be even money, the would take their 100a and trade them for 200b.  One it was even money tomorrow, they would change the 200b back to 200a, thereby doubling their money.

I'm not sure if this would have any affect on the value of one currency as opposed to the other or not.

I can say. as an example, let's take a look at diesel.  The price of diesel use to be much smaller than gasoline, since diesel was only used for trucks.  Eventually, someone figured out how to make cars run on diesel as well and they thought that producing them would let the consumers save a lot of money.  This lasted briefly, however, do to the law of supply and demand, the price of diesel soon became roughly the same as the price of gasoline.

What this says is that just because something looks good today, if everyone starts doing it, it soon won't be any good tomorrow.  How this would apply to money I can only guess.

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Scott A Wilson


I can answer any question in general math, arithetic, discret math, algebra, box problems, geometry, filling a tank with water, trigonometry, pre-calculus, linear algebra, complex mathematics, probability, statistics, and most of anything else that relates to math. I can also say that I broke 5 minutes for a mile, which is over 12 mph, but is that relevant?


Experience in the area; I have tutored people in the above areas of mathematics for over two years in I have tutored people here and there in mathematics since before I received a BS degree back in 1984. In just two more years, I received an MS degree as well, but more on that later. I tutored at OSU in the math center for all six years I was there. Most students offering assistance were juniors, seniors, or graduate students. I was allowed to tutor as a freshman. I tutored at Mathnasium for well over a year. I worked at The Boeing Company for over 5 years. I received an MS degreee in Mathematics from Oregon State Univeristy. The classes I took were over 100 hours of upper division credits in mathematical courses such as calculus, statistics, probabilty, linear algrebra, powers, linear regression, matrices, and more. I graduated with honors in both my BS and MS degrees. Past/Present Clients: College Students at Oregon State University, various math people since college, over 7,500 people on the PC from the US and rest the world.

My master's paper was published in the OSU journal. The subject of it was Numerical Analysis used in shock waves and rarefaction fans. It dealt with discontinuities that arose over time. They were solved using the Leap Frog method. That method was used and improvements of it were shown. The improvements were by Enquist-Osher, Godunov, and Lax-Wendroff.

Master of Science at OSU with high honors in mathematics. Bachelor of Science at OSU with high honors in mathematical sciences. This degree involved mathematics, statistics, and computer science. I also took sophmore level physics and chemistry while I was attending college. On the side I took raquetball, but that's still not relevant.

Awards and Honors
I earned high honors in both my BS degree and MS degree from Oregon State. I was in near the top in most of my classes. In several classes in mathematics, I was first. In a class of over 100 students, I was always one of the first ones to complete the test. I graduated with well over 50 credits in upper division mathematics.

Past/Present Clients
My clients have been students at OSU, people who live nearby, friends with math questions, and several people every day on the PC. I would guess that you are probably going to be one more.

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