CASH DEPARTMENT COUNTERFEIT CURRENCY REPORT January March 2018 April 2018
Contents: 1 Expertise of dinar banknotes... 2 2 Expertise of foreign currency banknotes... 4 3 Ratio of counterfeit dinar to foreign currency banknotes... 6 1
1 Expertise of dinar banknotes In the first quarter of this year, the expertise of suspected counterfeit banknotes showed that a total of 1,182 notes were counterfeits, which is 2.1% less than in the same period last year, when a total of 1,207 false banknotes were detected. The face value of the counterfeits detected fell by 38.4% (RSD 1,153,710.00 in the first quarter 2018 compared to RSD 1,873,050.00 in the same period of 2017). Table 1 shows the denomination structure of detected dinar counterfeits. Table 1 Dinar banknote counterfeits, January March 2018 Denomination 5000 2000 1000 500 200 100 50 20 10 Total Pieces 15 185 455 502 4 18 2 0 1 1,182 Share in % 1.3 15.6 38.5 42.5 0.3 1.5 0.2 0 0.1 100 In terms of the denomination structure of detected dinar counterfeits, 500-, 1000- and 2000-dinar banknotes accounted for a dominant share (Chart 1). Percentage-wise, these three denominations made up 96.6% of the overall number of dinar counterfeits. Chart 1 Denomination structure of dinar banknote counterfeits, January March 2018 1.3% 0% 0% 0.2% 1.5% 0.3% 15.6% 42.5% 38.5% 10 20 50 100 200 500 1000 2000 5000 Chart 2 illustrates the trends observed over the last eight years in terms of the number of detected counterfeits of these three most frequent denominations. 2
Chart 2 The most frequent dinars counterfeits 8000 7000 7,213 6000 5000 4000 3000 2000 1000 0 2,531 2,330 2,106 2,087 1,590 1,562 1,267 860 1,729 1,382 1,435 725 1,114 741 350 2,808 2,115 2,770 1,510 1,372 964 2010. 2011. 2012. 2013. 2014. 2015. 2016. 2017. 500-dinar 1000-dinar 2000-dinar In value terms, the 1000-dinar banknote accounted for the largest share of the dinar counterfeit structure, followed by 2000-, 500- and 5000-dinar banknotes (Table 2 and Chart 3). In percentage terms, these four denominations accounted for 99.7% of all dinar counterfeits. Table 2 Dinar banknote counterfeits, January March 2018 (RSD thousand) Denomination 5000 2000 1000 500 200 100 50 20 10 Total Pieces 75 370 455 251 0.8 1.8 0.1 0 0 1,153.7 Share in % 6.5 32.1 39.4 21.7 0.1 0.2 0 0 0 100 Chart 3 Denomination structure of dinar banknote counterfeits, January March 2018 (nominally) 6.5% 0% 0% 0% 0.2% 0.1% 21.7% 32.1% 39.4% 10 20 50 100 200 500 1000 2000 5000 3
A comparison of the number of detected dinar counterfeits with that of genuine dinar banknotes in circulation, which at 31 March 2018 numbered 322.7 million pieces or RSD 186.4 bln (Table 3), reveals that 3.7 in every one million circulating banknotes were found to be counterfeit, i.e. there was RSD 6,189 worth of counterfeits in every RSD 1 billion. Table 3 Circulating banknotes as at 31/3/2018 Denomination Pieces Amount 5000 3,313,283 16,566,415,000 2000 47,794,126 95,588,252,000 1000 53,125,879 53,125,879,000 500 21,977,425 10,988,712,500 200 21,593,857 4,318,771,400 100 26,927,078 2,692,707,800 50 29,136,550 1,456,827,500 20 46,762,283 935,245,660 10 72,020,457 720,204,570 Total: 322,650,938 186,393,015,430 2 Expertise of foreign currency banknotes From January to March 2018, the expertise of suspected counterfeit foreign currency banknotes revealed 170 pieces of counterfeits, which is almost two and a half times less than in the same period of 2017, when 420 such counterfeit notes were detected. Their currency and denomination structure is presented in Table 4. Тable 4 Foreign currency banknote counterfeits, January March 2018 Currency ЕUR Total USD Denomination 500 200 100 50 20 10 EUR 100 10 5 Total USD Other Total Pieces 14 6 107 15 6 1 149 16 1 1 18 3 170 Share in % 8.2 3.5 62.9 8.8 3.5 0.6 87.6 9.4 0.6 0.6 10.6 1.8 100 A total of 149 counterfeit euro banknotes were detected during the period observed, which is almost twice less than in the same period last year, when 291 of such notes were detected. The ratio between the number of the most frequently detected euro counterfeits 50- and 100-euro banknotes over the last eight years is presented in Chart 4. 4
Chart 4 The most frequent euro counterfeits 1,200 1,000 966 1,081 1,023 800 600 511 535 734 400 200 0 295 323 227 159 133 118 243 299 197 129 2010. 2011. 2012. 2013. 2014. 2015. 2016. 2017. 50-euro 100-euro In the first three months of this year, a total of 18 counterfeit US dollar banknotes were detected, which is less than in the same period last year, when 123 dollar banknotes were established to be counterfeit. From January to March 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 eight years. Chart 5 The most frequent US-dollar counterfeit 1,600 1,400 1,200 1,000 800 600 400 200 0 1,572 1,193 504 266 74 94 107 141 2010 2011 2012 2013 2014 2015 2016 2017 100-dollar Item Other in Table 4 refers to forged banknotes of two currencies the pound sterling (two pieces) and Bosnian convertible mark (one piece). In nominal 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. 1 The middle exchange rate as at 12 April 2018 was applied to convert the value of other currencies to the euro for 2017 and 2018. 5
Chart 6 Foreign currency banknote counterfeits, January March 2017 and 2018 (EUR thousand) 30 25 20 24.1 I-III 2017 19.8 I-III 2018 15 10 5 0 9.8 0.4 1.3 0.1 EUR USD Other EUR USD Other 3 Ratio of counterfeit dinar to foreign currency banknotes Chart 7 shows the ratio of the number of detected dinar to foreign currency counterfeit banknotes in the total detected counterfeits for the January March 2018 period. Chart 7 Currency structure of banknote counterfeits detected in January March 2018 149 18 3 RSD EUR USD Other 1,182 As shown, the share of counterfeit dinar banknotes (87.4%) exceeds the share of all detected foreign currency counterfeits. In nominal terms, however, the share of individual currencies in total counterfeit banknotes in the first three months of 2018 is best illustrated if expressed in euros, 2 as shown in Chart 8. 2 The middle exchange rate as at 12 April 2018 was applied to convert the value of other currencies to the euro. 6
Chart 8 Currency structure of banknote counterfeits detected in January March 2018 (EUR) 1,307 71 9,759 19,780 RSD EUR USD Other The dominant share in total detected counterfeits was that of the euro (64%), followed by the dinar (31.6%) and the US dollar (4.2%). 7