Published: Thu, June 28, 2018
Finance | By Jaime Brady

Tehran's Grand Bazaar strikes in protest at rial collapse

Tehran's Grand Bazaar strikes in protest at rial collapse

Iranian civilian protestors, in a surprising turn of events in the country, are taking to the streets to express opposition to the hardline ruling regime by chanting, "Death to Palestine" and "Leave Syria, think of us", according to an independent translation of videos showing the protests.

The protests erupted after the Iranian rial dropped to 90,000 to the United States dollar on the country's black market, despite government attempts to control the currency rate.

Iranians who participated in the protests represent a growing demographic in the Islamic Republic that is fed up with the nation's plummeting currency and crumbling economy.

The protest came a day after demonstrators forced two major mobile phone and electronics shopping centers in the Iranian capital to close.

Video footage of the unfolding demonstration obtained by RFE/RL showed hundreds of angry demonstrators marching in and around the Grand Bazaar, forcing shopkeepers to close their stalls.

Before opening a closed-door session on price rises, Jahangiri stated that the USA is looking to pressure Iran back to the negotiating table through economic pressure.

The US administration, under President Donald Trump, has claimed that the Iranian nuclear deal has not resulted in peace and stability in the Middle East, and demanded that Iran reduce its presence in the region and stop ballistic missile development.

According to the BBC, thousands of people took to the streets and shops were shut, while riot police fired tear gas at protesters.

Adidas Releases James Harden MVP Commercial With His Mom
James was able to lead the Cavaliers to the Finals for the fourth straight season despite only having the fourth seed in the East. Harden becomes the third Rocket ever to win the award, joining Moses Malone (1978-79 and 1981-82) and Hakeem Olajuwon (1993-94).

Mattis unaware of any steps North Korea has taken to denuclearize
One such project could be a railway that will be able deliver goods from Russian Federation to South Korea through North Korea . The U.S. official said: "The United States will continue to monitor this site closely as we move forward in our negotiations".

Russian Federation 2018: Suarez fires Uruguay into Round of 16
This is the second consecutive victory of Uruguay . "I know Diego is really committed, he has scored three goals in three matches".

Ali Fazeli, the head of Iran's Chamber of Guilds, a business association, told the semi-official Tasnim news agency later on Monday: "Business is as usual in the Grand Bazaar".

RFE/RL's Radio Farda reported that the protest at the bazaar began in a clothing market and soon spread to other markets - including a relatively more modern area where home appliances are sold.

"Shopkeepers in Great Bazaar of Tehran, the heart of Iran's economy, have gone on strike, closing their shops in protest at the ongoing economic crisis", Reza Khaasteh tweeted from Tehran.

"The current situation, particularly on the economic level, requires more coordination among parties", state news agencies quoted parliament Speaker Ali Larijani as saying.

The rial exchange rate was 65,000 to the dollar just before to the U.S. withdrawal from the deal, and 43,000 at the end of a year ago.

He was quoted by Iranian media as saying a rate of 42,000 rials per dollar would be set for "importing essential commodities including medicine", and that importers and exporters would "have to agree on the rate for importing non-essential goods".

Iranian websites reported that the decision, which was issued after holding a government meeting on Sunday that President Hassan Rouhani attended, had a positive impact on the exchange rate.

There were also large-scale anti-government protests fuelled by Iran's economic problems in late December and early January.

Like this: