Images shared on social media and some domestic media indicate a protest gathering of traders in the Tehran market due to the continuous surge in the dollar rate and rampant inflation. Following a strike and gathering of shopkeepers on Sunday, January 9, in protest against rising prices and inflation, Hamid Reza Rostegar, the head of the Tehran Chamber of Guilds, stated in an interview with ILNA that the reasons for this protest are the 'continuous increase in the currency rate.' He pointed out that 'the impact of foreign currency prices on the final cost of goods in our country is an undeniable reality' and added, 'Producers are concerned that the supply of goods whose raw materials are produced at an exchange rate of 81,000 tomans will be beyond the purchasing power of the people.' Protest gatherings have been reported among traders in the shoe, fabric, clothing sectors, as well as shopkeepers in the Bagheh Sepahsalar area. This is the first time since the rise of Masoud Pezeshkian's government that guilds have significantly protested and even gone on strike. Videos shared on social media indicate that some shopkeepers, by closing their businesses, have called on other market participants to strike, chanting slogans like 'Honorable traders, support, support' and 'Don't be afraid, close your shops.' The dollar rate in Iran's free market has surged by 33% since the rise of Masoud Pezeshkian's government and by 63% compared to a year ago. Concurrently with the protests in the Tehran market, at least two labor protests have also been held, and a group of retirees has gathered in Gilan and Khuzestan. Despite its promises, Masoud Pezeshkian's government has not only failed to control the growth of the currency rate in the free market but has also seen a significant rise in the currency rate in the Nima market, and from next year, the allocation of preferential currency for essential goods will be halted. Meanwhile, Mohammad Reza Zafarghandi, Iran's Minister of Health, Treatment, and Medical Education, announced last month that the preferential currency for medicine will also be eliminated next year. Iran has faced rampant inflation in recent years, and every year the people's purchasing power has diminished. According to the International Monetary Fund, Iran is among the top 10 countries with the highest inflation rates in the world this year.
Reports of Market Traders' Protest in Tehran Against Currency Surge and Inflation
Traders in Tehran are protesting against the continuous rise in the dollar rate and inflation, citing concerns over the impact on purchasing power. The protests reflect widespread dissatisfaction with the government's failure to control economic conditions, marking a significant moment of unrest under the current administration.
👥 Key Players
📰 What Happened
Traders in Tehran protested against rising dollar rates and inflation, expressing concerns over the affordability of goods. This marks a significant moment of unrest under the current government.
- The dollar rate has surged by 33% since the current government took office.
- Iran is experiencing one of the highest inflation rates globally, affecting purchasing power.
💡 Why It Matters
📚 Background
Iran has been grappling with severe inflation and currency devaluation, which have eroded purchasing power and sparked public discontent. The government's inability to stabilize the economy has led to widespread protests.
🏷️ Entities Mentioned
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