Govt directs FIA for 'full-fledged operation' against dollar hoarding

ISLAMABAD: The federal government has directed the Federal Investigation Agency (FIA) to launch a "full-fledged operation" against dollar hoarding and speculative currency trade, Information Minister Fawad Chaudhry said Friday.

The minister, in a tweet today, said the operation was being launched in coordination with the State Bank of Pakistan and Ministry of Finance.

The decision by the government comes at a time of rupee's weakening against the dollar.

At present the US dollar is being traded in the open market at Rs142.10, resulting into enormous pressure on the financial authorities.

The move is seen by many as an attempt to ease this pressure and save rupee from further devaluation.