The European Central Bank says the number of counterfeit euros discovered in 2011 dropped significantly over 2010, with €20 and €50 denomination bills remaining the most popular forgeries.
The Frankfurt-based bank said Monday that 310,000 counterfeit bills were withdrawn from circulation in the second half of 2011, a fraction of the average 14.4 billion banknotes in circulation. Overall 606,000 counterfeits were found in 2011, 19.3 per cent fewer than in 2010.
It did not give a reason for the decline, though the number of counterfeits have been declining in recent years as people become more comfortable with the decade-old currency used by 17 nations.
Twenties made up 47.5 per cent of the false notes, followed by 50s at 32.5 per cent.