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Published On: Thu, Oct 4th, 2012

Iran descends into angry protests as currency plummets in value

The Iranian government Wednesday, October 3, invoked the emergency measures drawn up for the 2009 protests to deploy large-scale Bassij militia forces in the capital and put down the first angry protests against mounting economic hardship.

Photo: Marcello Casal Jr\ABr

Iranian sources report two waves of riots sweeping through Tehran on Wednesday.

Money changers and gold traders attacked police forces and torched their vehicles afterauthorities arrested some of the money changers and accused them of black market dealings.

This was part of the regime’s effort to curtail the steep plunge of the Iranian currency against the dollar. Wednesday, a dollar went for 40,000 rials compared with 37,500 rials Tuesday and 24,000 only a week ago.

Protesters smashed shop windows and attacked banks after areas of the bazaar filled with moneychangers were closed. Numerous arrests were reported as protests spread out of the bazaar in central Tehran and into neighbouring areas.

“We closed because we don’t know what is going to happen” in terms of the currency market, one shopkeeper told Al Jazeera.

The protests came after Mahmoud Ahemedinjad, Iran’s president, said that his country will press on with its nuclear programme despite the problems caused by Western sanctions, including a dramatic slide in its currency’s value.

“We are not a people to retreat on the nuclear issue,” he told a news conference in Tehran on Tuesday.

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About the Author

- Writer and Co-Founder of The Global Dispatch, Brandon has been covering news, offering commentary for years, beginning professionally in 2003 on Crazed Fanboy before expanding into other blogs and sites. Appearing on several radio shows, Brandon has hosted Dispatch Radio, written his first novel (The Rise of the Templar) and completed the three years Global University program in Ministerial Studies to be a pastor. To Contact Brandon email [email protected] ATTN: BRANDON

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