ECB reports 20.7% drop in number of counterfeits

New €50 note to enter circulation in April

The European Central Bank has reported a 20.7% year-on-year drop in counterfeit notes in 2016, despite the number of notes in circulation rising to 19 billion in the second half of the year.

In a statement published on January 30, the ECB notes some 353,000 counterfeit euro banknotes were withdrawn from circulation in the second half of 2016, a slight increase compared with the first half of 2016 but a marked decrease from 2015.

The number of counterfeits "remains very low in comparison with

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