KARACHI (Dunya News) - FIA conducted an operation and arrested a suspect involved in illegal foreign currency trading here on Sunday.
According to a spokesperson for FIA, 1.45billion Iranian Riyals were recovered from the accused identified as Jehanzeb. An analysis of the accused's mobile phones revealed solid evidence of illegal currency trading.
The FIA spokesperson said the accused was transferred to the FIACBC Karachi for further legal action. An FIR was registered against the accused and further investigation was initiated.
In the midst of US-Israel war on Iran, the value of the Iranian Riyal has risen fourfold in Pakistan since the start of hostilities just over a month ago.
Dealers in Karachi said 10 million Riyals that sold for about ₨2,500 before the war are now being quoted near ₨10,000, while money changers in Lahore describe a similar move from about ₨2,000 to ₨8,000.