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Afghan Forces Arrest 13 Individuals on Charges of Smuggling Dollars to Iran

(Last Updated On: September 14, 2018)

Afghan security forces have arrested 13 individuals in Herat province on charges of smuggling dollars to Iran, officials said.

Following the rapid decline of Afghan currency against USD in the market, officials in Herat said that police have arrested some culprits who were engaged in smuggling US dollars to Iran.

“Serious steps being taken against the smuggle of foreign currencies in Herat province, fortunately, in last two or three months, 13 individuals have been arrested on charges of smuggling dollars to neighboring countries,” said the provincial governor’s Spokesman Jilani Farhad.  

According to the estimation of the provincial Money Exchangers’ Union, up to four million USD are smuggled to Iran everyday in Herat province.

Head of the union said that dollars have also been transferred to Iran through legal channels by some individuals in Islam Qala – a border town in Herat province near the border with Iran.

This comes as the selling rate of USD is lingering between 75 to 77 AFN in the past few days in Sarai-Shahzada money exchange market – the largest financial market in Afghanistan.

On Wednesday, the head of Central Bank (Da Afghanistan Bank), Khalil Sediq said that some profiteers are hoarding of foreign currency as Iranian Rial and Pakistani rupees are also losing their values against the USD. He stressed some opportunists are storing USD in hope of selling it  at a higher rate. 

He also cited the high demand of the USD in Iran and Pakistan as reason behind the soaring USD value in Afghanistan.

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