Central Bank: Number of counterfeit 100-manat banknotes has increased over past 6 years

Last year, the Central Bank of Azerbaijan (CBA) detected a total of 452 counterfeit banknotes, of which 323 were 100-manat banknotes, Nasib Panahli, head of the Expertise Department of the CBA's Cash Department, said at the Organization of Cash Cycle-2023 Seminar, Report informs.

According to him, 358 counterfeit banknotes were detected in 2021, of which 282 were 100-manat banknotes.

"From 2006 to 2022, the Central Bank detected 10,095 pieces of counterfeit money. Over the past four years, 20 criminal cases were launched over counterfeit money. Although counterfeiting of the national currency has decreased in the last four years, starting from 2017, the number of counterfeit 100-manat banknotes detected in the last six years has grown. For every 660,000 banknotes in circulation, there is one counterfeit banknote," Panahli said.