FIA seizes Iranian currency worth 1.45b rials in Karachi

The Federal Investigation Agency (FIA) has arrested a suspect in Karachi and recovered 1.45 billion Iranian rials as part of a crackdown on illegal foreign currency trading, 24NewsHD TV reported on Sunday. 

According to an FIA spokesperson, the operation was carried out by the agency’s commercial banking circle in Karachi, targeting persons involved in the unlawful buying and selling of Iranian currency.

During the raid, investigators seized Iranian banknotes worth 1.45 billion rials from the possession of the arrested suspect.

The FIA said further investigation is underway to identify possible links and a wider network involved in the illegal foreign exchange operation.