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The counterfeiting of euro banknotes has decreased during the first half of 2016, figures from the European Central Bank show.

The counterfeiting of euro banknotes has decreased during the first half of 2016, figures from the European Central Bank show.

During the first half of 2016, 331,000 counterfeit euro banknotes were withdrawn from circulation. This continues a downward trend in counterfeit banknotes, but this year’s figures show a significant 25% reduction from the second half of 2015, and a 27% reduction from the same period in 2015.

The most commonly counterfeited denomination was the €50 banknote at 48.2%, with €20 denominations following at 31.6%. While there was a decrease in the proportion of counterfeited €50 notes compared with the second half of 2015, and an increase in the proportion of €20’s, the combined figures show a continuing trend for the two denominations.

Of the other banknotes commonly used in everyday payment transactions, the figures for the €5 and €10 banknotes remain low at 1.1% and 4.8% respectively. The figures for the remaining €100, €200 and €500 banknotes were 11.1%, 2.0% and 1.2%

Practically all notes were found in euro area countries, with just 1.7% found in EU Member States and 0.7% in other parts of the world.

The new Europa €20 banknote was released into circulation on 25 November 2015. The ECB has not stated whether any of the counterfeit €20 banknotes so far withdrawn during 2016 were from the new series, but it can be arguably assumed that the release of the new banknote has had some impact on the latest counterfeit figures.

The Europa €50 banknote was unveiled on 5 July this year and is expected to be issued into circulation on 4 April 2017.

Thumbnail image courtesy of the European Central Bank.