The Bank of Jamaica (BOJ) says almost 7 per cent more counterfeit cotton-based banknotes were detected in 2023.
The central bank's annual report says this amounted to 354 notes, valued at about $700,000.
The BOJ says in 2022, 331 cotton-based fake pieces were detected, valued at $600,000.
The outturn for 2023 was equivalent to 1.4 counterfeit banknotes per million genuine banknotes in active circulation.
The BOJ says at end of 2023, it did not detect any counterfeit polymer banknotes.
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