Turkey works to halt circulation of fake US dollars

Turkish authorities were checking currency exchanges and cash dispenser machines on Thursday to prevent any damage caused by the circulation of fake US dollars, which has led several banks to stop accepting some bills. The central bank said it was cooperating with judicial authorities. A report and guidance was shared with lenders to address the issue of counterfeiting and to investigate counterfeit US notes.. However, it was not clear how many fake notes there were. As the currency was in circulation across the country, several foreign exchange offices and banks were no longer accepting some US dollars, several banking sources said. A source familiar with the matter said that there is no problem related to the financial system. Several banking sources have said that around $50 and $100 bills are suspected to be counterfeit and are currently undetected by counting machines.