FIA cracks down on dollar hoarders


ISLAMABAD: The Federal Investigation Agency (FIA) on Saturday decided to launch a crackdown against dollar hoarders as well as those involved in Hawala and Hundi business.

As per sources, the authority sprung into action and constituted six teams against hoarders who were selling the greenback in black and other people who were doing Hundi business.

The teams would be headed by assistant directors Sajid Ameen, Tariq Masood, Aijaz Ahmed, Riyaz Khan, Rana Haider and Rana Shehwaz and would comprise four members each. The teams would present their performance report on a daily basis, sources added.

A few days earlier, taking the notice of the devaluation of rupee against the US dollar, Prime Minister Imran Khan ordered to launch a crackdown against foreign currency exchange companies selling dollar above the market rate.

The US dollar reached a new record high of Rs151 in the interbank market on Friday morning.

As the rupee continues to devalue against the US dollar in this week, the greenback gained another Rs3 in the interbank market to touch the highest peak.