A first in Turkey: Commission to be charged for exchanging dollars

Grand Bazaar merchants have begun charging an insurance commission to those exchanging dollars for the first time due to the risk of counterfeit 50 and 100 dollar bills.

A sense of distrust has prevailed in the markets due to counterfeit 50 and 100 dollar banknotes being put into circulation in Turkey.

Most banks and institutions had stopped purchasing dollars because counterfeit money was passing through ATMs and currency counting machines.

According to a report in Sözcü, currency exchange offices in the Grand Bazaar have taken measures against counterfeit 50 and 100 dollar bills and have begun charging a commission to those exchanging currency for the first time in history.

It was stated that although currency exchange offices began accepting 50 and 100 dollar bills as of this week, they have started deducting between 1.5 and 3 dollars from those exchanging currency.

Grand Bazaar merchants informed those reacting to the commission deduction that counterfeit dollars can still be found among the dollars being exchanged, and that they are providing security through this method. It was announced that banks and ATMs have still not resumed the purchase of 50 and 100 dollar bills.