Police director Veselin Veljovic told reporters that the police had broken an international counterfeiting chain consisting of ten people, of whom seven had been arrested.
The persons arrested are from Montenegro, Serbia and some other countries, and one of them is a police officer.
The police said that the counterfeit money had arrived in Montenegro from Bulgaria via Serbia and that it had been intended for further distribution in Kosovo, Albania and EU countries.
The Montenegrin police said they had established cooperation with the Croatian police to try and discover possible links between this chain and the recent discovery of counterfeit banknotes in Zagreb.