Pakistani Rupee free fall: FIA comes under action

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Pakistani Rupee free fall: FIA comes under action

*KARACHI - Federal Investigation Agency (FIA) has come into action after the sudden and suspicious fall in the Pakistani Rupee against US dollar.*

*FIA Director General Bashir Memon on Wednesday took notice of Tuesday’s striking rupee devaluation against the US dollar.*

Following the news, the DG FIA directed officials to launch a crackdown against the transactions of foreign exchange reserves through hundi and hawala.

According to sources, FIA teams have been constituted in all four provinces under investigation officers and they will initiate inquires from tonight.

The US dollar showed an upward trend by Rs 11.70 as market opened on Tuesday, however, the rate was Rs 124.25 when the market closed on Monday.

This high rate of US dollar has created an uncertain behavior in the market.