October 3, 2012
Iranian riot police have clashed with protesters in the capital Tehran over the collapse of the rial, the country’s currency, which has lost a third of its value against the dollar in a week.
Police on Wednesday reportedly fired tear gas to disperse demonstrators, including currency exchange dealers.
It was the first sign of public unrest over the plunging currency.
The fall of the rial, which has now lost more than 80 per cent of its value compared with a year ago, with 17 per cent of its value shed on Monday alone, has been largely blamed on Western sanctions imposed over the country’s nuclear programme.
The rial slipped another four per cent on Tuesday to close at 36,100 to the dollar, according to exchange tracking websites.
This article was posted: Wednesday, October 3, 2012 at 10:10 am