Two persons, including a passenger, were arrested for allegedly attempting to smuggle out the foreign currency.
"Based on a specific intelligence, the officials of the Air Intelligence Unit (AIU) of the Customs intercepted a passenger when he was about to board a flight to Dubai after passing immigration and Customs counter," said Principal Commissioner of Customs (Hyderabad Commissionerate) A K Jain.
He said the passenger had placed the currency in six bundles in the checked-in bag which was sent for loading by the airline staff.
"On examination of the baggage, foreign currency worth Rs 3.96 crore was recovered. This is one of the biggest seizures of foreign currency at the airport," Jain said.
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He said another person was held from outside the airport for allegedly arranging the foreign currency for the passenger.
The operation was conducted by the Customs in coordination with the Hyderabad Police and with the assistance of CISF personnel, Jain said, adding that further investigation is underway.
In a separate incident at the international airport, Customs officials last night seized 216 grams of gold, worth Rs 6.57 lakh, from a passenger who had allegedly concealed it in a mobile phone box.
Further investigation is on.
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