Central Banking

Number of forged euro notes hits record high

The number of counterfeit euro banknotes seized soared by 13% in the second half of 2008, the European Central Bank (ECB) said on Monday.

In the six months to January 354,000 notes were withdrawn from circulation, up from 312,000 in the first half of last year. The figure represents the biggest haul since euro banknotes were introduced in 2002.

However, the face value of the notes recovered fell from €19.3m ($25.9m) in the six months to June 2008 to €17.8m. The €50 banknote is usually the mos

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