COUNTERFEIT CURRENCY REPORT

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1 CASH DEPARTMENT COUNTERFEIT CURRENCY REPORT January June 2016 July 2016

2 Contents: 1. Expertise of dinar banknotes Expertise of foreign currency banknotes Ratio of counterfeit dinar to foreign currency banknotes

3 1. Expertise of dinar banknotes In H1 2016, expertise of suspected counterfeit banknotes showed that a total of 3,023 notes were indeed counterfeits, which is 16% more than in the same period last year, when 2,607 false banknotes were detected. The face value of forged banknotes increased by 33.1% (RSD 4,476, in H relative to RSD 3,362, in H1 2015). Table 1 shows the denomination structure of detected counterfeit dinar banknotes. With regard to the structure of detected counterfeit dinar banknotes, the most frequently forged were the 2000-, and 500-dinar banknotes (Chart 1). Percentage-wise, these three denominations made up as much as 94.1% of the overall number of counterfeit dinar banknotes. Table 1 Dinar banknote counterfeits, January June 2016 Denomination Total Pieces 106 1, ,023 Share in % Source:. Chart 1 Denomination structure of dinar banknote counterfeits, January June % 0% 0% 0.07% 2.2% 0.13% 44.8% 17.2% 32.1% Source:. 2

4 Chart 2 illustrates movements in the number of detected counterfeits of these three banknote denominations over the last six years. Chart 2 The most frequent dinars counterfeits , ,531 1,382 2,330 2,106 1,590 1,562 1, , ,087 1,729 1, dinar 1000-dinar 2000-dinar Source:. In value terms, the 2000-dinar banknote accounted for the largest share of dinar counterfeits, followed by 1000-, 500- and dinar banknotes (Table 2 and Chart 3). In percentage terms, these four denominations made up 99.8% of dinar counterfeits. Table 2 Dinar banknote counterfeits, January June 2016 (RSD thousand) Denomination Total Pieces 530 2, ,476.0 Share in % Source:. Chart 3 Denomination structure of dinar banknote counterfeits, January June 2016 (nominally) 0% 0% 0% 0.15% 0.02% 5.82% 11.84% 21.67% 60.5% Source:. 3

5 A comparison of the number of detected counterfeit dinar banknotes with that of genuine dinar banknotes in circulation, which at 30 June 2016 numbered million pieces or RSD bln (Table 3), reveals that 10.1 in every 1 million circulating banknotes were found to be counterfeit, i.e. there was RSD 26,540.2 worth of counterfeits in every RSD 1 billion. Table 3 Circulating banknotes as at 30/06/2016 Denomination Pieces Amount ,984,907 14,924,535, ,693,151 69,386,302, ,424,950 64,424,950, ,980,096 10,490,048, ,370,692 4,074,138, ,751,010 2,575,101, ,277,290 1,313,864, ,876, ,522, ,289, ,898,770 Total: 299,648, ,649,359,850 Source:. 2. Expertise of foreign currency banknotes From January to June 2016, expertise of suspected counterfeit foreign currency banknotes revealed 1,216 pieces of counterfeits, which is almost twice as many as in the same period in 2015, when a total of 615 counterfeit banknotes were detected. The currency and denomination structure of these counterfeits is presented in Table 4. Тable 4 Foreign currency banknote counterfeits, January June 2016 Currency ЕUR Total USD Denomination EUR Total USD Other Total Pieces , ,216 Share in % Source:. A total of 1,142 counterfeit euro banknotes were detected during the observed period, which is 2.8 times more than in the same period last year, when 414 such banknotes were detected. Movements in the number of the most frequently detected euro counterfeits 50- and 100-euro banknotes over the last six years are presented in Chart 4. 4

6 Chart 4 The most frequent euro counterfeits 1,200 1, , euro 100-euro Source:. In H1 2016, 63 counterfeit US dollar banknotes were detected, which is more than three times less than in the same period last year, when 196 dollar banknotes were found to be counterfeit. From January until June this year, almost all detected counterfeit banknotes were those of 100 dollars. Chart 5 shows movements in the number of detected 100-dollar counterfeits over the last six years. Chart 5 The most frequent US-dollar counterfeit 1,600 1,400 1,200 1, ,572 1, dollar Source:. Item Other in Table 4 refers to forged banknotes of four different currencies the Swiss franc (7 pieces), German mark (two pieces), pound sterling (one piece) and Hungarian forint (one piece). 5

7 In nominal value terms, the share of individual currencies in total detected foreign currency counterfeits and their percentage vis-à-vis the figures from a year earlier are best illustrated if expressed in euros 1, as shown in Chart 6. Chart 6 Foreign currency banknote counterfeits, January June 2015 and 2016 (EUR thousand) I-IV EUR USD Other EUR USD Other Source:. 3. Ratio of counterfeit dinar to foreign currency banknotes Chart 7 shows the ratio of detected dinar to foreign currency counterfeit banknotes (in terms of the number of pieces) from January to June ,142 Chart 7 Currency structure of banknote counterfeits detected in January June RSD EUR USD Other 3,023 Source:. 1 The middle exchange rate as at 4 July 2016 was applied to convert the value of other currencies to the euro for 2015 and

8 As shown, the share of counterfeit dinar banknotes (71.3%) exceeds that of all other foreign currency counterfeits taken. In nominal value terms, however, the share of individual currencies in total counterfeit banknotes in the first half of 2016 is best illustrated if expressed in euros 2, as shown in Chart 8. Chart 8 Currency structure of banknote counterfeits detected in January June 2016 (EUR) 5,540 7,279 36, ,840 RSD EUR USD Other Source:. The dominant share in total detected counterfeits was that of the euro (69.3%) and the dinar (22.7%). 2 The middle exchange rate as at 4 July 2016 was applied to convert the value of other currencies to the euro. 7

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