Central Banking

Euro counterfeit banknote figure creeps up

euro-coins-and-banknotes

A total of 310,000 counterfeit euro banknotes were withdrawn from circulation during the second half of 2011, the European Central Bank said on January 16.

The figure represents a 4.7% increase on the number of fake banknotes discovered in the first six months of 2011, when 296,000 notes were found. Despite the rise, the overall quantity of counterfeits withdrawn from circulation in 2011 was still 19.3% lower compared with the figures for 2010.

The €20 and €50 denomination banknotes continue to

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