Two Kashmiri youths were arrested with one million euro (approx Rs. 5.60 crore) while trying to exchange it with Indian currency in Manali, police said on Monday.
Acting on a tip off, police team led by Deputy Superintendent of Police (DSP) Kuldeep Rana arrested the youths while negotiating with a property dealer for exchanging the Euro into Indian currency last evening.
The youths, identified as Faiyaz Ahmad (32) and Raees Ahmad (27) and resident of Kupwara district of Jammu and Kashmir, were trading in shawl for the past one month in Manali, Rana said.
The Euro recovered from the youths were issued by a bank in Italy, the DSP said adding, it was suspected to be utilised in the militancy activities.
During interrogation, they said that they were given the euro by somebody in Srinagar, he said.