The 31-year-old appeared in the Christchurch District Court on Saturday, facing charges of failing to stop for police, possessing six $50 counterfeit notes and dangerous driving.
The incident began when police noticed a vehicle travelling at a high speed and a initiated a short pursuit along Emmett St in Shirley when the driver failed to stop.
The pursuit ended on Jebson St when the vehicle stopped and the woman was taken into custody.
A rapid increase in counterfeit notes began circulating in Canterbury last year.
By the end of August, the Reserve Bank had recorded 543 counterfeit notes passed with a combined value of $31,160.
At least 15 people have been arrested and charged with possessing or using the notes.