Number of counterfeit euros reduced in first half of 2017 – Care advised regarding EUR 50 banknotes

The number of counterfeit euro banknotes discovered in the first half of 2017 was far smaller than in the second half of 2016, the European Central Bank reported.

Around 331,000 counterfeit banknotes were withdrawn from circulation in the January-June period, which is 6% fewer than in the second half of last year, France-Presse reports, citing the ECB report.

– The likelihood of receiving a counterfeit is thus very slight – the ECB reported and noted that more than 20 billion valid banknotes were in circulation at the moment.

Except for the slight increase in late 2016, the number of counterfeit banknotes has been dropping since late 2014, when more than 500,000 counterfeit banknotes were discovered.

As many as 85% of counterfeit banknotes are EUR 20 and EUR 50 ones, with banknotes of EUR 50 making up nearly a half, whereas those of EUR 20 amount to around 37% of the counterfeit banknotes.

Only 9% are EUR 100 banknotes, whereas EUR 500 ones amount to 1.5%.

The ECB is in charge of printing banknotes, whereas national central banks of the 19 Eurozone members are responsible for coin production.

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