Design and Implementation of Exchange Rate Computation System

DESIGN AND IMPLEMENTATION OF EXCHANGE RATE COMPUTATION SYSTEM

ABSTRACT

This work is aimed at Design and implementation of exchange rate computation system. The current system of computation of exchange rate is faced with few technical issues, ranging from manual method to compute data. This calls for the need to develop a system that corrects this error. The Design and implementation of exchange rate computation system stores and retrieves information. The choice of an appropriate exchange rate regime for developing countries has been at the center of the debate in international finance for a long time. The methodology adopted for this project is the Structured System Analysis and Design Methodology (SSADM). A market-based exchange rate will change whenever the values of either of the two component currencies change. A currency will tend to become more valuable whenever demand for it is greater than the available supply. It will become less valuable whenever demand is less than available supply (this does not mean people no longer want money, it just means they prefer holding their wealth in some other form, possibly another currency. The study outlines the main concepts of the analysis and design methodology of the proposed system, compares it to the existing and goes further to explain the design and implementation of the system using Visual Studio 2010 for the database. The fact finding techniques employed is interview, observation, online and library research.

CHAPTER ONE

INTRODUCTION

1.1    BACKGROUND OF THE STUDY

An exchange rate is how much it costs to exchange one currency for another. Exchange rates fluctuate constantly throughout the week as currencies are actively traded. This pushes the price up and down, similar to other assets such as gold or stocks. The market price of a currency how many U.S. dollars it takes to buy a Canadian dollar for example--is different than the rate you will receive from your bank when you exchange currency. Here's how exchange rates work, and how to figure out if you are getting a good deal. Traders and institutions buy and sell currencies 24 hours a day during the week. For a trade to occur, one currency must be exchanged for another. To buy British Pounds (GBP), another currency must be used to buy it. Whatever currency is used will create a currency pair. If U.S. dollars (USD) are used to buy GBP, the exchange rate is for the GBP/USD pair. 

If the USD/CAD exchange rate is 1.0950, that means it costs 1.0950 Canadian dollars for 1 U.S. dollar. The first currency listed (USD) always stands for one unit of that currency; the exchange rate shows how much of the second currency (CAD) is needed to purchase that one unit of the first (USD).

This rate tells you how much it costs to buy one U.S. dollar using Canadian dollars. To find out how much it costs to buy one Canadian dollar using U.S. dollars use the following formula: 1/exchange rate.

In this case, 1 / 1.0950 = 0.9132. It costs 0.9132 U.S. dollars to buy one Canadian dollar. This price would be reflected by the CAD/USD pair; notice the position of the currencies has switched.

1.2    STATEMENT OF THE PROBLEM

The Computation of Exchange Rate is done manually. The weaknesses associated with this method include:-

1. Time wasting to Compute Records
2. Improper communications and filing of documents
3. Most of records and other documents are being damaged and eaten up by insects, and rats.

Consequently, this project intends to develop a system that will minimise these weaknesses.

1.3    OBJECTIVES OF THE STUDY

The objective of this study is to design and develop a computer software that will:-

1. Receive and Store documents relating to Exchange rate
2. Retrieve and update records
3. Protection of integrity and confidentiality of the data stored.

1.4    SCOPE OF THE STUDY

The scope of this study shall specifically concentrate on ascertaining the activities Exchange rate. And it understudies the Nigerian exchange Market, and it specifically focuses on the application of computer on their mode of operation.

1.5    SIGNIFICANCE OF THE STUDY

The importance of this research work is to provide a system that will minimise the challenges associated with the current manual system of storing and processing exchange rate. Furthermore, it will enhance the speed, accuracy, efficiency and effective attendance of each and every client in the court.

1.6    LIMITATIONS OF THE STUDY

Many factors have limited this study, some of these factors are:

TIME – The time allocated to research work for this study was greatly constrained due to intense academic activities involving the researcher.

FINANCE – The major constraints for this study occurred in the form of inadequate funds.  The present high cost of material, access to a personal computer unit for running and debugging of the application program, transportation expenses to and fro the site of computer etc. militated against the smooth and easy advancement of the work.

TOPIC: DESIGN AND IMPLEMENTATION OF EXCHANGE RATE COMPUTATION SYSTEM

Chapters: 1 - 5
Delivery: Email

Number of Pages: 75

Price: 3000 NGN

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