KARACHI: Federal Investigation Agency (FIA) has apprehended the head of a money exchange company, Zafar Paracha to probe regarding a sudden surge in the rate of dollar in the country against rupee, ARY NEWS reported.
According to FIA officials, a team of the agency’s State Bank Circle conducted a raid at the headquarters of a money exchange company at Shahra-e-Faisal and arrested Zafar Paracha.
He was shifted to the agency’s office for further investigation as officials also seized records of the money exchange company during the raid in order to probe their role regarding a surge in dollar rate.
The greenback has mustered on Wednesday more value against the local currency in the interbank trade which saw dollar rising Rs0.16 by day-end.
Interbank closing #ExchangeRate for today: https://t.co/gUo7gBksbj pic.twitter.com/BXdRADGDl4
— SBP (@StateBank_Pak) October 6, 2021
The dollar has concluded at Rs170.96 against the Pakistani rupee after an increase of Rs0.16 in the banker trade today.
On Sept 29, the United States dollar surged to a historic high in Pakistan’s open market as it traded above the Rs172 mark after gaining Rs0.20 over the bleeding rupee.
In the past four months alone, the dollar value has jumped Rs18 as on May 7, it stood Rs152.28.
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