Iran’s Currency Crisis: Bad News For Mahmoud Ahmadinejad
The Daily Beast / Omid Memarian

Iran’s economy is in shock. Over the past week, the country’s currency, the rial, has lost half its value, and nobody knows whether the government can stop the downward spiral anytime soon. On Wednesday, Tehran’s traditional bazaar shut down, and authorities from the police and the Revolutionary Guard (IRGC) arrested a group of merchants and businessmen who had gathered in the marketplace. An eyewitness told The Daily Beast that near Ferdowsi Square, where most of Tehran’s foreign exchange shops operate, anti-riot police had established a widespread presence and that Tehran’s commercial area had assumed the appearance of a military zone.

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