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EghtesadOnline: Afghan security forces have arrested 13 individuals in Herat Province on charges of smuggling dollars to Iran.

Following the rapid decline of Afghan currency against the greenback, officials in Herat said police have arrested culprits who were engaged in smuggling US dollars to Iran, Ariana News reported.

“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 $4 million are smuggled to Iran every day in Herat, Financial Tribune reported.

The head of the union said 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 has been 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, Khalil Sediq, the head of Afghanistan Central Bank (Da Afghanistan Bank), said some profiteers are hoarding foreign currency as Iranian rial and Pakistani rupees are also losing their values against the USD.

He stressed that some opportunists are storing USD in the hope of selling it at a higher rate.

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

 

Iran Afghan forces Smuggling Dollars