Most Iranians must buy dollars on open market, where rate stood at 110,000 rials on Monday.Tehran: Iran's intelligence ministry said Monday it had arrested 11 "economic disruptors" who misappropriated some $400 million earmarked for essential goods and smuggled money out of country.Authorities have been cracking down on those seeking to exploit collapsing rial, which has lost around half its value against dollar this year, in part due to return of US sanctions."During these sensitive economic times, this network received 47 trillion rials ($416 million at Monday's open market rate) of subsidised foreign exchange to import essential goods but instead invested them in some other countries," intelligence ministry said in a statement published on its website.The group, based in western Kurdistan province, used "bogus companies, forged documents and bribery" to receive subsidised dollars from state banks, it said.Iran has multiple exchange rates, with government offering a subsidised rate of 42,000 rials per dollar to importers of vital goods.Most Iranians must buy dollars on open market, where rate stood at 110,000 rials on Monday, according to currency tracking site Bonbast.At one point in September, rial had fallen to 190,000 per dollar, but central bank has been pumping cash into market in recent weeks to stabilise currency.Dozens of other "economic disruptors" have been arrested in recent months, and in November, a trader dubbed "Sultan of Coins" and his accomplice were executed for exploiting surge in demand for dollars and gold.Many panicked Iranians rushed to secure their savings by buying foreign currency and precious metals in response to US President Donald Trump's decision in May to withdraw from 2015 nuclear deal and to reimpose sanctions.