Demonstrations broke out on Sunday at Tehran’s Grand Bazaar as business owners suspended operations to protest against soaring inflation in the Islamic Republic, according to a report by Iran International.
The news outlet indicated that the work action started in the 15th Khordad area and quickly expanded to other locations, including the Abbasabad Market and Baghe Sepahsalar.
“With the dollar now above 810,000 rials, our expenses have skyrocketed,” a fabric merchant was quoted as saying. “Many workshops have shut down, and even those still running are struggling to sell goods in such a sluggish market.”
Law enforcement officials were reportedly dispatched to temper the unrest, which appeared to have quieted by the end of the day.
The Iranian rial has fallen to record lows at least seven times since September, contributing to an annual inflation rate exceeding 40 percent. The currency’s downturn has been attributed to sanctions imposed on the theocracy, particularly those targeting its petroleum exports, which are a key source of foreign exchange.
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