Tehran Shuttered After Currency Protests

Police seek to keep peace at major bazaar
By Matt Cantor,  Newser User
Posted Oct 4, 2012 7:05 AM CDT
An Iranian firefighter extinguishes a burned motorcycle in a street in central Tehran, near Tehran's old main bazaar, on Wednesday, Oct. 3, 2012.   (AP Photo)
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(Newser) – The effects of yesterday's protests—and clashes—over Iran's sinking currency are still being felt in Tehran, with the shops of the city's Grand Bazaar closed today. Police are patrolling the area, which is set to reopen Saturday. Meanwhile, trade groups are saying Mahmoud Ahmadinejad's policies have wreaked havoc on the Iranian economy, Reuters reports.

But in a statement recounted by Iranian news, the groups appear to still support Supreme Leader Ayatollah Ali Khamenei, saying they continue to back "the system and the revolution." While the government says inflation is at about 25%, recent price increases point to inflation closer to 50% to 60%, says an economist. (Read more Tehran stories.)

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