Laxmi Capital News
Counterfeit currency in circulation

Circulation of fake banknotes inthe market was the discussion topic at Nepal Rastra Bank today after onehigh-ranking official was deceived with a fake note.

The fake note was sent to theCurrency Management Department of the central bank for the purpose ofinvestigation and disposal.

Central bank officials suspectthat circulation of high denomination fake notes spiked during the elections,when cash transactions rose exponentially.

Police, who have been receivingincreasing number of counterfeit currency complaints, say racketeers tend tocirculate counterfeit notes when circulation of cash is high in the market.

The head of Central InvestigationBureau of Nepal Police, Deputy Inspector General Pushkar Karki said earlier thepolice used to deal with such cases occasionally, but the flow of complaintshas gone up significantly in recent days.

Source: the Himalayan Times, 28thFebruary 2018

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