ECB Says Fake Euro Notes Fell 6.2% in Six Months to June

The European Central Bank said the number of counterfeit euro banknotes removed from circulation fell in the first six months of 2014.

The Frankfurt-based central bank withdrew 331,000 banknotes, down 6.2 percent from the six months from July to December 2013, it said in a statement today. Some 81 percent of the counterfeits were 20-euro and 50-euro banknotes, it said.

“Overall, the number of counterfeits remained very low compared with the number of genuine banknotes in circulation during that period –- over 16 billion,” the ECB said in the statement.

The Bundesbank also released counterfeit numbers today and said the number of false banknotes removed from circulation in Germany increased by 27 percent to 24,623 in the first six months of 2014.

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