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 ...

In Southeast Asia, the Philippines is seen leading with GDP growth at 6.6% this year and 6.7% in 2018.
The IMF’s latest “Regional Economic Outlook” report paints a...
Int’l Observers Update Vietnam Growth Forecasts
International organizations are continuing to show optimistic...
European Equities Hit Pause Button
Europe’s major stock markets paused on Tuesday as investors...
More and more people in Europe are now able to find a job.
The European Commission published its yearly report on Labor...
Kenya’s debt is currently at $38.7b.
Kenya’s rising debt is set to hit 60% of gross domestic...
Economic recovery will be key to bringing down the jobless rate of 21%.
Greece’s economy fell into recession again last year,...
Algeria Worst Country in Economic Freedom
Algeria is one of the worst countries in the world for...
Goldman Offers Buyback, Dividend Details
Goldman Sachs Group Inc offered investors a window into its...

Add new comment

Read our comment policy before posting your viewpoints

Enter the characters shown in the image.