Agencies to conduct raids on homes of dollar hoarders: sources

KARACHI: The Federal Investigation Agency (FIA) and secret agencies will conduct raids on homes in crackdown on US dollars hoarding, ARY News reported on Tuesday.

In the next phase of crackdown against USD hoarding, launched by the government, intelligence agencies will conduct raids at homes for recovery of the US currency, sources said.

According to sources, targeted homes have been pointed out with the help of the data gathered from exchange companies. “There are reliable reports that the dollar mafia has hoarded the greenback at homes after crackdown,” sources said.

“The agencies have a list of persons, who have purchased massive amount of the US currency,” sources said. “The FIA and secret agencies will conduct targeted raids on homes,” according to sources.

“Those involved in hoarding dollars in homes would have to undergo jail terms,” sources confided.

After a crackdown against the currency mafia, US dollar has shed 31 Pakistani rupees in the open market. The dollar was closed at its highest value against PKR at 328 rupees on September 1st.

The US dollar (USD) dropped by 1.45 Pakistani rupee in interbank on Tuesday morning and was trading at Rs294.50.