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Protests in Iran over Collapsing Currency

Iranian police and demonstrators clashed Wednesday in protests linked to the plunging value of the national currency and government vows to crack down on illegal money changers.

Police fired tear gas and tried to disperse the protesters, who rallied outside the capital’s central bazaar. Many left their businesses and shuttered their shops.

“Our checks bounced, our businesses are ruined,” said a businessman who gave his name as Ali. “How shall we earn a living?”

At the center of the protests was discontent with Iran’s free-falling currency, the rial. The currency has lost as much as 80% of its value against the U.S. dollar in the last year.

Source: LA Times. Read full article. (link)

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