FX.co ★ Number of counterfeit euro bills mushroomed in H1 2014

Bundesbank said that the number of counterfeit euro banknotes that were removed from circulation have gone through the roof in the first half of 2014. The Frankfurt-based central bank withdrew 24 623 euro banknotes. That is 27% up from the previous six months. Total losses caused by forgeries are estimated at 1.5 million euros ($2 million). The Bundesbank said it removed 20,156 coins from circulation, compared to approximately 24,000 in the second half of last year. “Forgeries in Germany remain at a very low level, despite the recent increase,” Bundesbank board member Carl-Ludwig Thiele said in a statement.