A third man arrested as part of an investigation into counterfeit banknotes in Famagusta was remanded in custody for three days on Tuesday.
The man, aged 20, was arrested on Monday on suspicion of conspiracy to commit a felony, illegal possession and circulation of counterfeit currency, and securing goods by false representation.
The arrest comes after an 18-year-old and a 19-year-old were arrested on Saturday as part of the same case.
The police said the owner of a shop in the Famagusta district reported that a group of young people had entered his premises last Thursday and paid using nine counterfeit €10 notes.
They added that the same group of people appeared at the shop the following evening and the owner called the police, pointing out the two people who had paid with the counterfeit money.
One of the pair tried to pay with counterfeit money again before the police arrived.
When the police arrested the first two suspects, another counterfeit €10 was found among their possessions and taken as evidence.
The pair appeared in court on Monday and were remanded in custody for six days.