Counterfeit US dollar panic subsides as Turkish banks resume exchanges
A teller shows US dollar bills at an exchange office at the Grand Bazaar in Istanbul, Türkiye, on Nov. 28, 2024. (AFP Photo)
The Banks Association of Türkiye (TBB) announced that updates to currency counting and verification machines have been largely completed, and banks have resumed accepting foreign currency banknotes.
In a written statement released on Saturday, TBB provided information regarding banks’ acceptance of foreign currency banknotes, which had caused hesitation among customers.
“Updates to currency counting and verification machines, carried out to ensure the safety of both our customers and banks, have been largely completed, and banks are now accepting foreign currency banknotes,” the statement read.
Transactions suspended amid counterfeit US dollar scare
Since November, Turkish banks and exchange offices in Istanbul and Ankara reported fraud attempts involving counterfeit U.S. dollars which were able to pass through both currency counting machines and ultraviolet light checks.
Following a warning notification from the Banks Association of Türkiye, many Turkish banks halted transactions, particularly for $50 and $100 bills. However, some exchange offices reportedly continued accepting the banknotes with added commission fees.
