adminFrankfurt – The euro is gaining currency among criminals. The number of counterfeit euro banknotes withdrawn from circulation in the second half of last year rose by 11,4 percent from the first half to 353, 000, the European Central Bank said yesterday. It was the highest level since late 2010, although with 15 billion banknotes in circulation the number of fakes remains very low in percentage terms.
The ECB unveiled a new 10-euro bank note yesterday, which it said would help it stay ahead of counterfeiters.
The 20 and 50 euro notes remain counterfeiters’ favourites, however, accounting for more than three quarters of fake bills.
Meanwhile, the rand was largely flat against the dollar yesterday compared with its previous close, but was off last week’s five-year lows as weak US jobs data weighed on the greenback.
The local unit was trading at 10,6650 against the dollar by early yesterday morning, just 0,14 percent softer than Friday’s close in New York.
The rand has clawed back significant ground after slumping to 10,8330 on Thursday, its weakest since late 2008. – AP.
Londile Moyo
Online Reporter