Iranian police clash with protesters over currency plunge

[Bosonic]

Source: Reuters

Iranian riot police clashed on Wednesday with demonstrators and foreign exchange dealers in the capital Tehran over the collapse of the country's currency, which has lost a third 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 Iranian rial. Protesters shouted slogans against President Mahmoud Ahmadinejad, saying his economic policies had fuelled the economic crisis.

The rial has been plunging to record lows against the U.S. dollar almost daily as Western economic sanctions imposed over Iran's disputed nuclear program have slashed Iran's export earnings from oil, undermining the central bank's ability to support the currency.

Panicking Iranians have scrambled to buy hard currencies, pushing down the rial. With Iran's official inflation rate running at around 25 percent, the currency's weakness is hurting living standards and threatens to worsen a recent spate of job losses in Iran's industrial sector.

Read more: http://www.reuters.com/article/2012/10/03/us-iran-currency-protests-idUSBRE8920DS20121003

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[Arctic Dave]

1. What a weird headline.

Of all the things people protest for anymore is money.

Kill people, nope.

Invade other countries, nope.

Torture people, nope.

Bomb other countries, nope.

I have to wait to buy an Iphone because the price went up, RIOT!!!!!

[Posteritatis]

6. Yeah, because I'm sure they're worried about Apple products instead of affording rent and groceries.

Christ, some people around here are blinkered.

[Arctic Dave]

7. They will go through a period of inflation caused by outside instigators.

That being caused by us.

I could see protesting if the devaluation was caused by the goverment fiscal policy being bad but this group must complete idiots to think that is the case.

[Posteritatis]

9. The "boo hoo, they're upset because they can't afford iphones" spin is also idiocy. (nt)

[Arctic Dave]

10. If that makes you feel better. Sure.

Tell ya what, why don't you go to the nearest corner and join them in solidarity. It will make about as much sense as what they are doing.

Derpa derpa derpa

[TomCADem]

2. Hey, Romney, Netenyahu and Adeson, Maybe Sanctions Do Sting?

Maybe we don't need to rush into a war as a first option? However, war is a wonderful excuse for keeping corporate friendly hardliners in power.

[bemildred]

3. Time for the 2nd Iranian revolution?

Another Middle Eastern country descends into chaos? With all that cool stuff laying around? Hmm. Is this really what we want?

[AndyTiedye]

4. Can't Happen

Iran is a theocracy. Theocracys NEVER fall to popular uprisings.

[bemildred]

8. Hey, they can be the first. nt

[MADem]

5. The exchange rate now for the rial, it's like toilet paper.

Completely worthless.