Iran Currency Woes Spark Rare Strike - Wall Street Journal [dayinformations.blogspot.com]
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By FARNAZ FASSIHI
Iranian riot police move in as garbage is set on fire by protesters near the old main bazaar in central Tehran Wednesday.
Protests calling for the president's resignation erupted in Tehran's main bazaar, Iran's commercial hub, on Wednesday in reaction to the plunge in the value of the country's currency, which has fallen by more than a third against the dollar since Sept. 24.
The protest marked the first time in three decades that the conservative merchant classes, a backbone of the Islamic Revolution in 1979, have publicly turned against the government.
Tens of thousands of merchants, shopkeepers, workers and others marched around the area chanting for President Mahmoud Ahmadinejad to quit, according to witnesses and videos posted on YouTube.
Merchants in Tehran's main bazaar closed their shops in protest on Wednesday against the plunge of Iran's currency, which has shed more than a third of its value in less than a week. Photo: Associated Press.
"Death to this deceiving government," and "Mahmoud, shame on you, leave politics," they shouted in anger, videos showed.
Riot police and security forces were dispatched to the area on Wednesday morning and tried to disperse the crowd with tear gas, witnesses said. Clashes broke out in several places and 150 people were arrested, according to opposition websites. At one location, garbage bins were set on fire by protesters, witnesses said.
Security forces raided black market currency traders in downtown Tehran on Wednesday, a day after Mr. Ahmadinejad said a ring of 22 people was responsible for upsetting the currency market.
Most trade unions that operate in the bazaar, including textile, home appliance and jeweler unions, said on Wednesday that they had called for a strike to show concern about the currency. The fluctuations have forced sellers and buyers to delay deals to adjust prices to the new rates.
Protesters on Wednesday also lashed out at Iran's support for Syria's regime by chanting "Leave Syria alone, think of us."
Many Iranians resent the government's financial and military support of Syrian President Bashar al-Assad's regime and say money that could be used to improve their livelihood is being wasted on foreign policy interests of the regime.
Iran's Supreme Leader Ayatollah Ali Khamenei, speaking to a group of students on Wednesday, didn't mention the protests against the economy but warned that Iran would emerge from the economic pressures stronger than ever.
"Iranian people will never bow to these pressures and this is why our enemies are so angry," Mr. Khamenei said, according to a text of his speech posted on official Iranian media.
The rial closed between 35,500 to 40,000 to the dollar on Tuesday, according to money changers in Tehran. It was down from 23,000 the previous Monday, Sept. 24. Money exchange shops were closed on Wednesday.
Write to Farnaz Fassihi at farnaz.fassihi@wsj.com
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