Euro notes are pictured in this file photo by Picture: Lee Jae Won / Reuters.

Lisbon -

Portuguese police on Wednesday said they had confiscated a total of 380 200 euros ($505 000) in fake 200-euro notes, calling it “the world's largest seizure of counterfeit euros”.

The 1 901 fake banknotes were discovered in a police operation in the northern city of Porto on Tuesday, during which a 46-year-old man was also arrested, the judicial police said in a statement.

The counterfeit bills were “of exceptional quality”, they said, adding that the counterfeiting operation had been active since 2002 in numerous countries, including Spain, Germany, Italy, Bulgaria and Portugal. - Sapa-AFP