Police also recovered original Indian currency of Rs 80,000, and a two-wheeler from Abdul Aleem (35), who hails from Murshidabad district of West Bengal, and Ch. Nandalal Bose alias Bose (48), a former journalist from Krishnalanka, Vijayawada, said a senior police officer.
He said that the duo were initially brought to police station last evening after they were found moving in a suspicious manner.
Police booked them under section 489 (b) (Using as genuine, forged or counterfeit currency notes or bank-notes) of the Indian Penal Code.
Sources said that Aleem has confessed that he was part of a racket that deals in smuggling of the fake Indian currency notes from Bangladesh and circulating them in India.