Counterfeit Money is On the Rise in Yucatán

Mexico’s central bank informs that 500 peso bills are the most counterfeited, followed by 200-peso notes. Photo: Courtesy

The Bank of Mexico (Banxico) analyzed nearly 1,000 suspected counterfeit bills and coins, including foreign currency, from the Yucatan region during the first quarter of 2024. An average of 11 pieces of fake currency were snagged every day in January, February and March.

Banxico is currently analyzing the banknotes and coins to determine their authenticity. If confirmed as counterfeit, appropriate measures will be taken.

In a statement, Banxico reiterated the importance of vigilance against counterfeit currency and urged the public to verify authenticity by using detection devices and examining security features.

The January-March figure surpasses the 3,486 suspected counterfeit bills and coins analyzed in 2023, an average of 9.5 per day. Counterfeit national currency circulation has been increasing steadily since 2020.

The most commonly counterfeited denominations were 500-peso notes, followed by 200, 50, and 100-peso notes.

Merida Businesses on Alert

In 2023, the Merida Chamber of Commerce (Canaco) alerted its affiliates, urging precautions and the use of counterfeit detection tools. Recent social media reports have indicated the circulation of counterfeit 500 and 1,000-peso notes in Valladolid.

Banxico emphasized its commitment to working with authorities to combat counterfeiting and maintain the integrity of currency in Mexico.

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