Protests Break Out in Iran Over Plummeting Currency

Iranian police in riot gear clashed with protesters in Tehran today, firing tear gas to try to get them to disperse, the BBC reports. Protesters took to the streets around a major bazaar to protest the plummeting rial, which has hit record lows against the dollar in recent days. Some set fire to tires and trash cans, while shouting slogans slamming Mahmoud Ahmadinejad and the regime. Amateur video showed hundreds marching towards Iran's central bank.

Police have arrested many protesters, and also reportedly descended on illegal money changers in the capital. The bazaar has been closed, but the head of the bazaar union said he expected it to reopen tomorrow. In a speech yesterday, Ahmadinejad blamed US sanctions for the rial's woes, but many traders are angry at him, saying the government hasn't provided the guidance necessary to keep prices stable. (More Tehran stories.)