Arab Today, arab today drop in euro forgeries in second half of 2015
Last Updated : GMT 21:53:08
Arab Today, arab today
Arab Today, arab today

Drop in euro forgeries in second half of 2015

Arab Today, arab today

Arab Today, arab today Drop in euro forgeries in second half of 2015

A total of 445,000 fake euro banknotes were removed from circulation in the period
Frankfurt - AFP

 A total of 445,000 fake banknotes were removed from circulation in the period from July to September, a drop of two percent from the first half of 2015, and 12 percent fewer than in the second half of 2014, the Frankfurt-based institution said in its twice-yearly counterfeits survey.

"The number of counterfeits remains very low in comparison with the increasing number of genuine banknotes in circulation -- over 18 billion during the second half of 2015," the ECB said.

The 20-euro banknotes accounted for nearly half of the total number of forgeries at 46.2 percent, the ECB found.

They were followed by the 50-euro banknotes, which accounted for 37.1 percent and the 100-euro notes which made up 10.1 percent of the total.

The ECB is currently in the process of issuing new banknotes with enhanced security features to foil counterfeiters.

The five-euro and 10-euro bills have already been launched and the new 20-euro note came into circulation in November.

The new 50-euro bill is set to go into circulation in the second quarter of 201

 

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