Counterfeits rise with issuance on multiple substrates

Average percentage of counterfeits per total volume in circulation is around 0.01%

Central banks that print their banknotes on a variety of different substrates experience a higher percentage of counterfeits as a proportion of total volumes in circulation, according to new data from Currency Benchmarks 2020.

In general, the proportion of banknotes in circulation marked as counterfeit is 0.01%, according to 34 central banks surveyed. This equates to around 78,800 counterfeit banknote pieces per jurisdiction.

But the counterfeit figure tends to be lower for smaller nations

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