The European Central Bank (ECB) issued a press release this week confirming the total number of counterfeit euro banknotes which were withdrawn from circulation.
During the second half of 2013 the total number of banknotes withdrawn saw an increase of 11.4% compared to the volume removed during the first half of 2013. Though this number has been gradually increasing since 2012, the ECB states that this number is still considered to be very low when compared to the total number of banknotes in circulation which is currently around 15.5 billion (0.002%).
As seen in previous years, the €20 and €50 banknote denominations continue to be the most counterfeited, responsible for 78% of the total number of counterfeits.
The ECB advises “98% of the counterfeits were found in euro area countries. Only around 1.5% were found in EU Member States outside the euro area and 0.5% were found in other parts of the world.”
Source: European Central Bank