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Tehran Currency Traders Shut Shops as Police Patrol Streets

Most foreign currency shops and outlets in Tehran’s Grand Bazaar were shuttered Thursday, October 4, while hundreds of Iranian riot police patrolled in the downtown area a day after protests over the tumbling national currency, Bloomberg reported. The rial fell to a record low of 35,000 to the dollar on Oct. 1, an 18 percent drop, on the unofficial market. Riot police were deployed yesterday after some shopkeepers didn’t open and trash cans were set alight in the streets, in the first visible signs of discontent since accelerating inflation and the rial’s slide in recent months. Iranian authorities have arrested 16 people accused of fueling unrest in the currency markets, the state-run Mehr news agency said today.