The notes were all in the denomination of Rs 500.
Police acting on a tip off kept a vigil at the bus stand and nabbed the two persons after they were found moving about in a suspicious manner. A search revealed they were carrying the fake currency, which was seized
They said the duo from Salem had been bringing counterfeit notes from Palakkad in neighbouring Kerala.
They had purchased counterfeit notes worth Rs 20,000 in exchange for Rs 10,000 genuine notes and exchanged one note in Palakkad, police said.
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