Protesters swarm Iran's Grand Bazaar in Tehran

Bazaar of Tehran

Bazaar of Tehran

On Monday, protesters clashed with police in front of the Parliament in Tehran, the Associated Press reports, citing videos posted on social media networks.

Monday's protests come just days after two of Tehran's largest shopping centres were forced to close due to economic protests.

The rial has been under pressure since the US withdrew from the 2015 Iran nuclear deal last month and started the process of re-imposing USA sanctions on the Iranian economy.

Some observers have speculated that the protests have been orchestrated by these hardliners to stir up resentment at the administration led by pragmatic-centrist President Hassan Rouhani.

The decision was made as the Iranian rial plunged to a record low against the USA dollar in the unofficial market on Sunday, Tasnim news agency reported.

In another video, demonstrators chanted "Neither Gaza nor Lebanon - my soul sacrifices only for Iran".

"In the coming months we will see much more intervention in the economy by the government, a centrally imposed style of management by dictat", he said.

Due to the economic protests, the authorities have closed Grand Bazaar, the main urban market of the capital. Crowd chants: "We will die, will take back #Iran", "Iranians will die, will not accept humiliation".

A wave of demonstrations in December 2017-January 2018 rattled the regime and got global media attention, but there have been few major disturbances reported in recent months.

At the end of previous year, similar economic protests roiled Iran and spread to some 75 cities and towns, becoming the largest demonstrations in the country since its Y 2009 disputed presidential election.

"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 government has struggled to tackle persistent double-digit inflation and unemployment.

Meanwhile, the Central Bank Governor Valliollah Seyf on June 25 responded to the rapidly falling value of the rial by announcing plans to launch "a second foreign exchange market" next week to battle black-market currency traders.

The rial exchange rate was 65,000 to the dollar just before to the USA withdrawal from the deal, and 43,000 at the end of past year. The Fars news agency, believed to be close to Iran's hard-line paramilitary Revolutionary Guard, made a point Monday to publish an article from the Sobh-e No daily newspaper describing the government as being ready to "bow down to foreign threats and sit at the negotiation table".

Latest News