WATCH: Hundreds protest failed economic policies in Tehran as Iran riyal plunges

Videos have surfaced across social media showing hundreds of protesters in Iran’s Tehran Bazaar on Monday, chanting slogans condemning the government’s failed economic policies.

Several activists shared videos of angry crowds of protesters shouting economic and political slogans like “We don’t want the dollar to be at 100,000 riyals” and “Strike”. People are also seen chanting at merchants to close their stalls at the bazaar.

The Iranian rial plunged to a record low against the US dollar on the unofficial market on Sunday, continuing its drop amid fears of returning US sanctions after President Donald Trump in May withdrew from a deal on Tehran’s nuclear program.

The dollar was being offered for as much as 87,000 rials, compared to around 75,500 on Thursday, the last trading day before Iran’s weekend, according to foreign exchange website Bonbast.com, which tracks the unofficial market.

As the protests are ongoing, a picture of Rouhani taking a walk in a sporting outfit caused more anger among social media users, where Iranian activists criticized Rouhani’s ignoring of the country’s economic crisis.

There were also several reports of currency exchange offices in Tehran not buying or selling hard currencies, especially the US dollar, for fear of extreme currency fluctuations.

Several Iranian citizens have also noted that this decline in the Iranian riyal is directly affecting their everyday lives, as food prices have steadily risen. Many have begun buying and storing food items in bulk for fear of a rise in prices in the coming period.

To back up protesters in Iran, the main Iranian opposition the National Council of Resistance of Iran (NCRI) has dedicated this year’s meeting in Paris to the cause: “#Free Iran; the Alternative”.

In last year’s address, Maryam Rajavi, President of the NCRI said that the regime is “besieged by the poor and unemployed youths who additionally want regime change”.

On June 30, Iranians from all over the world will gather in Paris to show their support for protesters and strikers in Iran. According to media reports, the event has attracted over 100,000 Iranian diaspora each year.

Similar to the current protests, the Tehran bazaar strike of 1979, which was nicknamed the pulse of the Iranian economy, was one of the main factors in the fall of the Shah’s rule at the time, and contributed greatly to his departure from the country.

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Last Update: Wednesday, 20 May 2020 KSA 09:57 - GMT 06:57
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