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Iran’s Currency Crashing

Signs of public dissatisfaction are appearing in Iran with protests in central Tehran today.  Iran’s currency has lost more than 50% of its value in the last week.

Police in the hundreds with anti-riot gear swarmed the capital around the currency exchange district looking for illegal money changers and closing other legally operating venues down, according to witnesses reporting to AFP (Agence France-Presse).

According to the witnesses, many were arrested, smoke was seen in at least two places and stones where being thrown at police.

Ahmadinejad however, blames the sanctions imposed by the USA and European Union for the freefall of their currency but remains defiant and committed to Iran’s nuclear program “We are not a people to retreat on the nuclear issue… If somebody thinks they can pressure Iran, they are certainly wrong and they must correct their behaviour,”.

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