Police have arrested two foreigners accused of illegally trading foreign currency at inflated rates.

Police said the arrests were made based on information received through the hotline set up for reporting illegal dollar trading.

The two men arrested were Pradeep Cholakutil Sankaranayanan from India and Mohamed Rasel Mia from Bangladesh.

Both have had their periods of remand in custody extended. Police said that actions that will be taken against the two will be decided based on findings of the ongoing investigation. 

Police said that reports of persons engaging in currency exchange trade without the required license from the Maldives Monetary Authority, or otherwise illegally, can be submitted via the dedicated hotline, 9388733.

Reports can be submitted to the hotline via SMS, Viber, WhatsApp, or other messaging applications as well.

Police extended thanks to the public for cooperation given in identifying such crimes.