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.
