Average value of counterfeit banknotes rises
UV ink the most common security tool used in battle against fake banknotes
Central banks removed more counterfeit banknotes from circulation over the past 12 months than in the previous year, the Currency Benchmarks 2023 find.
The data reveals an average value of $969,544 was removed from circulation in 33 jurisdictions. The figure is 56.2% higher than the average value of $424,847 worth of counterfeit currencies reported in the 2022 benchmark. A high income European country reported the largest figure by value of $8.1 million. A lower-middle income respondent from
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Currency
Currency Benchmarks 2023 – model banks analysis
Data reveals how advanced and emerging market central banks structure their currency operations
Currency Benchmarks 2023 report – steady as they go
Data hints cash is slowly changing from payment method to store of value
Middle income countries recall highest volume of worn banknotes
High income jurisdictions remove notes with the highest average value
Banknote recycling remains limited at most central banks
Just a few institutions track carbon footprints of banknotes
Banknotes rarely portray current monarchs or presidents
Central banks favour other historical figures, but few institutions feature people from minority groups
Covid-19 impact on cash demand minimal in past year
Majority of currency departments relax pandemic countermeasures
Central banks tend to outsource banknote printing
De La Rue is most commonly used printer among respondents
Most central banks forecast currency demand over 1–3 years
Minority of institutions use big data for forecasting purposes