Fears of counterfeit $50 and $100 bills have disrupted foreign-exchange trade at Istanbul’s Grand Bazaar, with some bureaus halting the purchase of these bills due to issues with identifying fake notes. There are conflicting views on the extent of the problem, with some traders blaming banks for clogging the system by not accepting old dollar bills. The central bank has issued warnings and provided guidance on updating money-counting machines and other technological infrastructure. The prosecutor’s office in Istanbul has launched an investigation, as the counterfeit bills are believed to have entered Turkey from abroad.

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