BOJ records decline in counterfeit currency notes

There has been a decline in the number of  counterfeit currency notes detected in circulation in Jamaica.
According to the Bank of  Jamaica's annual report, the total number of  counterfeit notes detected during 2017 was 4,014, representing a value of  J$4.7 million.
This was down from 4,517 pieces, valued at $4.9 million, in 2016. 
The Bank of  Jamaica says this was equivalent to 26 counterfeit notes per one million genuine notes in active circulation in 2017, relative to 32 pieces per million in 2016. 
Meanwhile, during last year 425.9 million notes, valued at $343.8 billion, were processed by the central bank, compared to 430.7 million notes, valued at $319.3 billion, in 2016. 
Of  the total number of  notes processed, 84.7 per cent were deemed fit for re-circulation, an increase of  0.5 percentage points relative to 2016.
Banknotes considered unfit to re-enter circulation and counterfeit notes were destroyed. 

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