The currency was seized from Arpit Jain who was about to take a flight for Dubai from the Jaipur airport, he said.
As he could not produce valid documents related to the currency in possession, he was arrested, the official said.
The currency, which includes USD, pounds, Dinar and Omani rial, the official said.
Jain was not carrying the Reserve Bank of India's permission for carrying the currency.
He will be produced in the court, the official said.
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