The Federal Investigation Agency (FIA) on Sunday seized currency worth Rs 40 million and arrested three people in Lahore, the interior ministry said in a press release.
The action was taken against those involved in dollar hoarding, money laundering, hundi/hawala (illegal money transfer) and ‘illegal speculation’ regarding the de-valuing of Pakistani rupee, the statement said. “The dollars were hoarded to make rupee weaker in market. This action caused artificial demand of dollar and its rate increased artificially. Six teams were thus constituted by the FIA, all of which carried out raids simultaneously at all money exchanges in Lahore and inspected their records,” the statement added.
“During the action, currency worth crores of rupees was taken into possession from DD Exchange Company Lahore,” the press release said. Another interior ministry statement stated the currency worth Rs 40 million was seized. Three persons were taken into custody. “Investigation is in progress and startling revelations are expected from them especially against hoarders of dollars,” the ministry said.