The National Bank of Serbia published its Cash Operations Division report on counterfeits detected in January–March 2025, based on expert examinations of suspected domestic cash and effective foreign currency. It recorded 2,361 counterfeit banknotes, with euro counterfeits accounting for the largest share by number of pieces and by value. The report identified 450 counterfeit Serbian dinar banknotes, dominated by RSD 2,000 (380 pieces, 84.44%), followed by RSD 1,000 (30, 6.67%) and RSD 500 (24, 5.33%); in nominal terms, counterfeit dinars totalled RSD 877.1 thousand, with RSD 2,000 notes making up 86.65% by value. Against cash in circulation, this equated to 0.69 counterfeit dinar banknotes per million genuine banknotes and RSD 1,667.85 of counterfeits per billion dinars in circulation. For foreign currency, 1,911 counterfeit banknotes were detected, comprising 1,597 euro notes (mainly EUR 100 and EUR 200 denominations) and 314 US dollar notes (USD 100), with no other currencies registered; expressed in dinars, the nominal value of all detected counterfeits was RSD 34,862,439.19, of which euro represented 88.16% (RSD 30,736,067.15) and US dollars 9.32% (RSD 3,249,272.00).
National Bank of Serbia 2025-05-13
National Bank of Serbia reports 2,361 counterfeit banknotes detected in January–March 2025 led by euro counterfeits
The National Bank of Serbia's Cash Operations Division reported 2,361 counterfeit banknotes detected in Q1 2025, with euro counterfeits comprising the largest share by number and value. Among 450 counterfeit Serbian dinar notes, RSD 2,000 notes were most prevalent. In foreign currency, 1,911 counterfeit notes were found, predominantly euros and US dollars, with a total nominal value of RSD 34,862,439.19.