Foreign currency shops in Tehran remained shuttered or failed to display prices today while hundreds of Iranian riot police remained in the downtown area a day after protests over the tumbling national currency. Police units were visible around Ferdowsi and Manouchehri
Riot police clashed with demonstrators and foreign exchange dealers in Tehran on Wednesday over the collapse of the Iranian currency, which has lost 40 percent of its value against the dollar in a week, witnesses said. Police fired tear gas to disperse the demonstrators, angered by the plunge in the value of the rial.
Iran is working to shrink and eventually eliminate the free market in its tumbling rial currency, the economy minister was quoted as saying amid signs that foreign exchange trade outside a government-sanctioned centre was drying up.
Iran’s rial plunged at least 9 percent to a record low against the U.S. dollar on Tuesday as the industry minister said he hoped security services would root out speculators whom he blamed for the drop. The rial was trading at about 37,500 to the dollar, down from around 34,200 at the close of business […]
A precipitous drop in Iran’s currency, the rial, shows that sanctions are cutting “deeper and deeper” into its economy, the United States said on Monday, reiterating Iran must rein in its nuclear program.
IRAN’S currency plummeted around 17 per cent in trading on Monday, according to media and an online exchange website, severely adding to strains on the Islamic republic’s sanctions-hit economy.
The Iranian rial plunged more than 7% in open-market trade on Monday to a new all-time low of about 32,000 per US dollar, traders and currency-tracking websites said, meaning the currency has lost about a quarter of its value in the past week.
The U.S. and Europe are implementing the toughest sanctions yet on Iran to stop its leaders from developing nuclear weapons. The measures have succeeded in making life harder for regular Iranians; according to Iranian news sources, milk prices are rising daily, and citizens boycotted bakeries and grocery stores in protest in June.
Iran’s inflation rate hit 22.9 percent in the fourth calendar month of the Iranian year , which ended on July 21, showing 0.5 percent rise compared to the previous month, the IRNA News Agency reported.
Egyptian riot police fired barrages of tear gas at hardcore protesters demanding Egypt’s army relinquish power in a sixth night of violence which has led the interior minister, according to one report, to propose postponing elections due on November 28.