Each figure covers from July of the previous year to June of the year indicated.
As of 2015, a new series for the indicator of counterfeit notes detected per each
million genuine notes in circulation (or Parts Per Million - PPM) is published. This new series
will be published every six months with values for the months of June and December
, the previous annual series
The calculation of the new indicator is the sum of counterfeit notes detected during the last
twelve months divided by the average of the notes in circulation the last day of
the same twelve previous months; whereas the previous indicator was calculated
dividing by the notes in circulation the last day of the previous month, December
for the published figure. This change is due to the fact that the previous series
presented a huge seasonality and was optimistic, as it took one of the highest
values in the year for the circulation as denominator, that is December. In contrast,
this new way of calculation considers the circulating behaviour over the whole year.
It does not include the seized notes before circulation.
It does not include the counterfeit banknotes captured before circulating.