The Bureau of Special Investigation (BSI) has detained the joint auditor of Yangon Region Gold Entrepreneurs Association for his suspected involvement in the foreign currency manipulation, said Aung Myo, Director of the BSI.

“The police have opened a case against Nyi Nyi Oo (aka) Hla Lay Sein under the Foreign Currency Management Law, in Pabedan Township today,” Aung Myo said.

The BSI detained five people suspected of involvements in the foreign currency manipulation in early September. Now the number of detainees has reached six.

The BSI is monitoring the monetary and gold markets. Further indepth investigation is going on, he added.

On September 21, Zaw Htay, Director-General of the President’s Office said at a press conference that the government would investigate those involved in the foreign currency manipulation. It would effectively deal with the “black and white” money and take legal actions against them.

The BSI’s arrests came after the press conference. On September 24, the BSI started interrogating the suspects who involved in the foreign currency and gold price manipulations on Shwebonetha Street in Yangon.

The Shwebonetha market is the hub that controls US dollar and gold price across the country.

The value of US dollar declined slightly after the crackdowns on the foreign currency manipulators at the end of September. But the US dollar has appreciated against local currency in the early October.

On October 16, the value of a US dollar closed at Ks 1,583.