Counterfeit bills down 13 pct in Vietnam

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The amount of fake money collected in Vietnam's banking system fell 13.41 percent in the first half of this year from a year ago, the central bank announced.

Most of the fake polymer banknotes that surfaced during the period could be identified easily by checking security features, the state lender said this week.

The bank provided no details on counterfeit bill denominations.

The circulation of counterfeit money has declined in recent years after Vietnam switched to polymer notes in 2002, gradually replacing paper bills.

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Around this time last year, the central bank reported a 24 percent drop in the amount of fake notes, following a sharp decline of 60 percent recorded in the first half of 2009.

Last year, 44 percent of the counterfeit banknotes were VND50,000 bills.

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