{"id":1505243,"date":"2024-11-30T12:35:00","date_gmt":"2024-11-30T17:35:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1505243"},"modified":"2024-11-30T12:35:00","modified_gmt":"2024-11-30T17:35:00","slug":"istanbuls-grand-bazaar-rocked-by-fears-over-fake-50-and-100-bills","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/istanbuls-grand-bazaar-rocked-by-fears-over-fake-50-and-100-bills\/1505243\/","title":{"rendered":"Istanbul&#8217;s Grand Bazaar Rocked By Fears Over Fake $50 And $100 Bills"},"content":{"rendered":"<p><span class=\"field field--name-title field--type-string field--label-hidden\">Istanbul&#8217;s Grand Bazaar Rocked By Fears Over Fake $50 And $100 Bills<\/span><\/p>\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p>Fears of counterfeit $50 and $100 bills have disrupted foreign-exchange trade at Istanbul\u2019s Grand Bazaar, the nation&#8217;s largest currency trading gray market.<\/p>\n<p>According to the state-run Anadolu Agency, some bureaus at the bazaar, a hub for currency trading, stopped purchasing the bills, saying the counting machines they use can\u2019t identify the fake notes.<\/p>\n<p><strong>\u201cThe number of counterfeit dollars isn\u2019t clear,\u201d<\/strong> Anadolu cited Resat Yilmaz, a tradesman at the Bazaar, as saying. \u201cThese bills have to be collected, which can take two weeks.\u201d Money-counting machines also have to be updated, he added.<\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/grand%20bazaar%20fx.jpg?itok=ccRaVGRo\"><\/a><\/p>\n<p>A representative for currency traders said the disruption has no basis and \u201cthere\u2019s no fake currency\u201d in circulation. He blamed banks for what he said was a \u201cclogging\u201d of trading.<\/p>\n<p>\u201cBanks should accept old dollar bills. Currently, no bank is doing that,\u201d Mehti Seren, head of the Association of All Authorized Institutions and Foreign Exchange Offices, said in a press conference. \u201cClients are then returning the dollars to us. That\u2019s what\u2019s clogging the system.\u201d<\/p>\n<p>The central bank said it\u2019s sent warnings and expert opinions about the fake bills to banking associations.<\/p>\n<p>\u201cThe necessary guidance on precautions to be taken regarding the technological infrastructure has been made,\u201d the bank said in a statement. Bill counters, bill checkers and teller machines are being controlled and updated, the Turkish Banks Association said in a separate statement.<\/p>\n<p>The prosecutor\u2019s office in Istanbul launched an investigation, Anadolu said. The counterfeit bills entered Turkey from abroad, Haberturk reported, citing sources it didn\u2019t identify.<\/p>\n<\/div>\n<p>      <span class=\"field field--name-uid field--type-entity-reference field--label-hidden\"><a title=\"View user profile.\" href=\"https:\/\/cms.zerohedge.com\/users\/tyler-durden\" class=\"username\">Tyler Durden<\/a><\/span><br \/>\n<span class=\"field field--name-created field--type-created field--label-hidden\">Sat, 11\/30\/2024 &#8211; 07:35<\/span><\/p>\n<p>\u200b<a href=\"https:\/\/www.zerohedge.com\/markets\/istanbuls-grand-bazaar-rocked-fears-over-fake-50-and-100-bills\" target=\"_blank\" class=\"\" rel=\"noopener\">https:\/\/www.zerohedge.com\/markets\/istanbuls-grand-bazaar-rocked-fears-over-fake-50-and-100-bills<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Istanbul&#8217;s Grand Bazaar Rocked By Fears Over Fake $50 And $100 Bills Fears of counterfeit $50 and $100 bills have disrupted foreign-exchange trade at Istanbul\u2019s&#8230;<\/p>\n","protected":false},"author":0,"featured_media":1505244,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1505243","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1505243","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1505243"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1505243\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1505244"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1505243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1505243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1505243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}