FIA arrests three more illegal currency dealers in Quetta

The Federal Investigation Agency (FIA) Balochistan has arrested three more suspects for their alleged involvement in Hawala/Hundi and illegal currency exchange as the law enforcers continue their crackdown on illegal currency dealers.

The development came days after a Pakistan court sentenced three illegal currency dealers to five years in prison and imposed a fine of Rs1 million on each for their involvement in unlawful foreign exchange trading.

The law enforcement agencies (LEAs) including the FIA have arrested at least eight illegal currency dealers in the past two weeks – since a crackdown was launched against illegal currency dealers and smugglers.

The LEAs have intensified the crackdown to help Pakistani rupee recover against US dollar and other world major currencies.

FIA arrests one more in ongoing crackdown against illegal currency dealers

The FIA said noose is being tightened around illegal currency dealers on directive of FIA Director General Riffat Mukhtar Raja.

The suspects identified as Abdul Bari, Sanaullah and Asadullah have been arrested from different parts of Quetta, it said in a statement on Tuesday.

“A total 2.7 million Irani Riyal and 3,050 Afghani currency were recovered from the suspects, in addition to mobile phones and other evidence of Hawala/Hundi (currency smuggling),” the agency said.

The FIA said the suspects failed to give satisfactory replies to the authorities regarding their possession of foreign currency. Following which, an investigation was launched after taking them into custody, it added.

The court of the First Additional Sessions Judge, Sukkur, had on August 8 jailed three illegal currency dealers for five years and imposed a fine of Rs1 million each. The convicts included Qamar Shehzad, Muhammad Zeeshan, and Zubair Asghar. The FIA Composite Circle Sukkur had registered the case against them.

The crackdown has supported the domestic currency strengthened against US dollar and other currencies in inter-bank and open markets in recent days.

Court jails 3 illegal currency dealers for 5 years, fines Rs1mn each

According to State Bank of Pakistan’s (SBP) data, the rupee has regained a total of Rs2.4 against US dollar since launch of the crackdown on July 23, 2025 to date, closing at Rs282.5/$ in the inter-bank market on August 8 compared to Rs284.9/$ on July 22, 2025.

Earlier, the rupee had lost almost Rs3 to a dollar in the prior seven weeks to Rs284.9/$ on July 22, 2025 since June 1, 2025.

Talking to Business Recorder on July 23, Exchange Companies Association of Pakistan (ECAP) chairman Malik Muhammad Bostan said he had led a currency dealers’ delegation to the Director General of Counter Intelligence (DGC) at the Inter-Services Intelligence of Pakistan (ISI) in Islamabad.

According to an ECAP statement then, Bostan apprised the DGC about the currency smuggling to Iran and Afghanistan. “Due to higher black market rates, the supply of dollars is decreasing to legal currency dealers day-by-day,” he was quoted as saying in the statement.

“On this, General Faisal Naseer [DGC] immediately ordered law enforcement agencies to crack down on currency smugglers and arrest them,” the ECAP said.