Counterfeit banknotes withdrawn from circulation by Banco de Portugal fall 26% in 2020

The largest number of counterfeit banknotes was 20 euros (6.292) and 50 euros (3.034), with 1.823 10 euro banknotes, 443 100 euro banknotes and 324 five euro banknotes.

Banco de Portugal (BdP) withdrew 12.028 counterfeit euro banknotes from circulation in 2020, 26% less than in 2019, with the 20 euro banknote being the most apprehended, the central bank said today.

In a note published on its website, BdP notes that “this value is residual in relation to banknotes in circulation”, with “the vast majority of counterfeits being seized of low quality” and “easily identified using the 'Touch - Observe - Incline' method '”.

The largest number of counterfeit banknotes was 20 euros (6.292) and 50 euros (3.034), with 1.823 10 euro banknotes, 443 100 euro banknotes and 324 five euro banknotes.

The least counterfeit banknotes were 500 euros (83) and 200 euros (29).

Compared to 2019, when a total of 16.350 euro banknotes had been seized, there was a noticeable decrease in the counterfeiting of higher-value banknotes: Counterfeit banknotes of 500 euros fell from 739 in 2019 to 83 in 2020 and those of 200 euros from 1.760 in 2019 to just 29 last year.

On the contrary, counterfeits of 10 euro banknotes more than tripled (from 594 to 1.823), while those of five euro banknotes more than doubled (from 116 to 324).

As for the seizures of 20 euro banknotes, they increased slightly, from 5.765 in 2019 to 6.292 in 2020, while those for 50 euro banknotes decreased from 6.664 in 2019 to less than half (3.034) the following year and those of 100 euro fell from 712 to 443.

“The banknotes of the second series of euro banknotes (Europe series) have a high quality, which makes them difficult to reproduce”, says the Bop.

“However - he stresses - it is important that users always check the notes when they receive them, because a counterfeit note cannot be exchanged for a genuine note, that is, anyone who accepts a counterfeit note as if it were an authentic note cannot recover its value ”.

In the note released today, Banco de Portugal recalls that, like the European Central Bank, it publishes on its website information about the characteristics and security features of the euro banknote and how to verify them.

Additionally, BdP, through its regional network, provides training for different audiences on the knowledge of the euro banknote.

Read more

Commerzbank closes Barcelona branch and wants to sell Brazil's

In presenting its 2020 results, Commerzbank, which recorded losses of almost 2.900 million euros, indicated that it wanted to close agencies and representations outside Germany, withdrawing from 15 international points.

Public debt retreated in January after reaching historic high

Debt decreased by 600 million between December and January, reflecting “essentially amortizations of debt securities, in the amount of 0,3 billion euros, and the reduction of deposit liabilities in the amount of 0,2 billion”, according to the Portugal's bank.

PremiumRestructuring of TAP's debt does not aggravate bad debts of banks

Banks agreed to postpone the payment of TAP's debt by a year and a half. However, comfort letters from the State prevent them from being classified as bad.