The fake money found had a nominal value of $4.5 million.
The fake money found had a nominal value of $4.5 million.

Bundesbank Reports Decline in Counterfeit Euro Bills

Bundesbank Reports Decline in Counterfeit Euro Bills

The recent introduction of new security features in some euro banknotes has led to a significant drop in the number of counterfeit bills. But there’s more work to be done, the German central bank says.
For the whole of 2016, the German central bank registered 82,200 counterfeit euro banknotes in Germany. In a fresh report, it said that the fake money found had a nominal value of €4.2 million ($4.5 million), marking a 14% decrease year on year, DW reported.
“The introduction of the “Europa” series of banknotes has had a positive effect on the number of counterfeits, leading to a significant decline in fake €20 banknotes,” said Bundesbank executive board member Carl-Ludwig Thiele.
He added that since the new €20 bill was brought into circulation, the number of counterfeits had almost halved. “The next milestone will be the issuance of the improved €50 note on April 4,” Thiele said.
The €50 bill was the most frequently counterfeited bill in 2016, accounting for over 60% of the total volume of fake money.
The European Central Bank said that in the six months to the end of December, around 353,000 counterfeit euro banknotes were taken out of circulation, a slight increase on the figure for the first half of the year, but a more than 20% decrease on the number removed in the same period of 2015. 

Short URL : https://goo.gl/2tIsaB
  1. https://goo.gl/pzMcpN
  • https://goo.gl/NDnfxS
  • https://goo.gl/omtHJV
  • https://goo.gl/T0XlrO
  • https://goo.gl/OsT4O0

You can also read ...

India is too poor to grow without exporting.
A trade war would bring forward the next financial crisis...
Turkey’s January industrial output rose an annual 12%.
The International Monetary Fund on Thursday revised up its...
Online searches for “bitcoin” fell 82% from December highs.
Suddenly, Bitcoin seems a bit boring. It might be hard to...
MSS Market in ASEAN Shows 22.3% Growth
The Managed Security Services market in ASEAN continued its...
Global consumer confidence Primary Index in March has risen to 50.6, tying the record high set in January 2018.
Simmering fears of a global trade war; an embarrassing...
EBRD’s First Lebanon Deal
The European Bank for Reconstruction and Development has made...
Singapore Exports Fall
Singapore’s key non-oil domestic exports unexpectedly declined...
Nippon Steel seeks a sharper edge in specialty products.
Nippon Steel & Sumitomo Metal will buy Swedish counterpart...

Add new comment

Read our comment policy before posting your viewpoints