Hyperinflationary Currency Collapse Is Turning Into Big Anti-Regime Protests In Iran

Earlier this week we wrote about how Iran’s currency (the Rial) is in a state of total collapse, in part due to oil sanctions.

It’s obvious that the spiraling cost of things is having a major destabilizing effect.

The BBC reports on protests:

Riot police in Iran have clashed with protesters in the capital over sharp falls in the currency, the rial.

Tear gas was used to disperse the demonstrators, some of whom were setting fire to tyres and rubbish bins. There were many arrests, reports say.

Eyewitnesses told the BBC that scores of people gathered outside the central bank, calling for the governor to stand down, chanting anti-government slogans.

Via Finans Akrobat, here’s a video:

And here’s a ground-level video of the protest in the bazaar:

And here’s a chart showing the dollar against the Rial over the last 70 days (note that it’s the year 1391 on the Persian calendar).

 

rial

And it seems Ahmadinejad is getting mocked by the media for the crisis.

From journalist Reza Asadi:

image

Photo: Reza Asadi

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