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Currency exchange sealed, eight arrested for dollar fluctuation in Peshawar

Currency exchange sealed, eight arrested for dollar fluctuation in Peshawar

PESHAWAR: The Federal Investigation Agency (FIA) sealed a currency exchange for holding excessive foreign currency and for its alleged involvement in wrongful fluctuation of the dollar here on Thursday.

At least eight employees of 'Pakistan Currency Exchange' in Peshawar's Chowk Yadgar area were arrested during the FIA raid for keeping more foreign currency at the exchange than the authorised limit.

Speaking to media representatives, FIA Deputy Director Qazi Hameed said agency officials raided the currency exchange but staffers resisted and did not allow them to enter. As a result, FIA called police personnel to intervene.

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After a struggle of several hours, the lockers at the exchange were broken and the facility was sealed after the FIA recovered records and currency notes, Hameed said.

The official said the currency exchange was involved in the recent fluctuation of dollar, adding that Rs70,000,000 in foreign currency was recovered from the facility during the raid which exceeds the authorised limit of Rs30,000,000 by a wide margin.

No record could be traced of the recovered Rs70,000,000, said the FIA deputy director.

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