Acting on specific input, the accused, identified as Mohammed Aouf, belonging to Bhatkal, was intercepted by Directorate of Revenue Intelligence officers, and foreign currency notes also seized, an official release said.
The accused was allegedly trying to smuggle them to Dubai, it said.
The foreign currency included British Pounds, US Dollars, Euros, Australian Dollars, Saudi Riyals, UAE Dirhams, Qatari Riyals, Omani Rials and Kuwaiti Dinars, it said.
During interrogation, Mohammed Aouf admitted the offence and further investigations were underway, the release said.