Fall in number of fake euros

Published on 17/07/2012 00:00

The number of counterfeit euro bills fell 15.2 per cent in the first six months of the year compared with the first half of 2011, with €20 and €50 notes being the most commonly forged.

The European Central Bank said that the two notes made up 77 per cent of the 251,000 counterfeit bills detected.

It said the overall number of counterfeit notes makes up a small fraction of the approximately 14.6 billion in circulation during the first six months.

The number of counterfeits has been declining in recent years as people become better acquainted with the decade-old currency used by 17 countries.