Already a Bloomberg.com user?
Sign in with the same account.
The European Central Bank said it removed 19 percent fewer counterfeited euro banknotes from circulation in the first half of the year compared with the previous six months.
The Frankfurt-based central bank withdrew about 251,000 forged notes in the six months through June, compared with about 310,000 between July and December 2011, it said in an e-mailed statement today. From a year earlier, the number was down 15.2 percent.
The ECB said the most counterfeited denominations remain the 20-euro and 50-euro notes, which together accounted for 77 percent of discovered forgeries. The proportion of counterfeit notes compared with the total in circulation remains “very low,” it said.
To contact the reporter on this story: Jeff Black in Frankfurt at email@example.com
To contact the editor responsible for this story: Craig Stirling at firstname.lastname@example.org