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Central bank destroys 8,923 counterfeit banknotes

Central bank destroys 8,923 counterfeit banknotes

Banco de Portugal (BoP) withdrew 8,923 counterfeit banknotes from circulation in the second half of the year, 1,496 more than in the first half. According to a statement published on its website, however, the central bank pointed out that the number of counterfeit banknotes seized is negligible in relation to the number of banknotes in circulation.
3,279 €20 notes, 3,228 €50 notes, 188 €100 notes, 1,469 €200 notes and 260 €500 notes were seized.

According to the BoP, there was an increase in the number of low-quality counterfeits seized, which can be easily identified using the Feel – Look – Tilt method.
The regulator warned that a counterfeit banknote cannot be exchanged for a genuine banknote and that whoever accepts a counterfeit banknote as if it were a genuine one will not be able to recover its value.
“For this reason, users should check the banknotes when they receive them”.