Number of seized fake euro bills falls: ECB

17th January 2011, Comments 0 comments

The number of fake euro banknotes seized in 2010 declined by 12.7 percent to 751,000 bills, data released on Monday by the European Central bank showed, the first full year of decreases since 2007.

"In the second half of 2010 a total of 364,102 counterfeit euro banknotes were withdrawn from circulation," a decline of 5.9 percent, an ECB statement said.

That fall followed a drop of 13 percent in the first half of the year to 387,000 bills, the first six-month decline since late 2006.

With the seized fake notes representing around just one in 37,350 in circulation "the proportion of counterfeits remains very low," the ECB said.

In 2007, total seizures had amounted to 561,000 banknotes, a small decline from 565,000 one year earlier.

The fake banknote most often seized remained the 50 euro ($67) bill this time around, with 43.5 percent of the total, followed by the 20 euro note, at 38 percent, the ECB said.

© 2011 AFP

0 Comments To This Article