Euro Ranked Second Most Counterfeited Currency Globally, New Research Reveals
Dublin: New research by BestBrokers reveals that the Euro is the second most counterfeited currency globally. In 2023, approximately 467,000 counterfeit Euro banknotes were detected. With 28.9 billion Euro notes in circulation, this equates to around 16 fake notes per million genuine ones. The €50 and €20 denominations were the most commonly forged.
The US dollar remains the most counterfeited currency, with over 900,000 fake notes seized in 2023, representing 17 counterfeits per million legitimate notes. The Mexican peso ranks third, with 284,614 counterfeit notes detected and the highest concentration, at 32 fake notes per million in circulation. In contrast, India recorded 225,769 counterfeit notes in 2023. However, considering the vast number of banknotes in circulation—142.3 billion—this equates to only 2 counterfeit notes per million banknotes.
Despite the Euro’s vulnerability, it is also among the most secure currencies, featuring at least 16 security measures on the €50 note. In comparison, the most secure banknote in the world is the CHF100 Swiss franc, which boasts 20 security features. Other highly protected currencies include the Indonesian rupiah and the Australian dollar.
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