The woman, who was smartly dressed, aroused suspicion when she paid for purchases at a market here with Rs 1000 notes yesterday, police sources said.
The woman was intially detained and questioned by the police after being informed by shopkeepers.
The woman, Agamani Majumder, was arrested when 22 fake notes of Rs 1000 were found in her possession, the sources said.
The woman with an accomplice, Prashanta Majumder, posing as her husband, had rented a room in a lodge here.
Another person, Saidul Mondal of Natun Hanshpur in Murshidabad's Lalbagh, was also arrested.
They were produced in a Nabadwip court today.