Saturday, October 6, 2012

Tehran Grand Bazaar Reopens

Tehran Grand Bazaar reopened today under heavy police presence. The bazaar was shut down on Wednesday during a day of protests over the plunge of the national currency, with NAJA riot police using tear gas to disperse the demonstrators.

There is growing anger among the merchants that the government has been unable to contain the currency crisis and its policies and mismanagement were significant factors in the rial losing its value so rapidly. The instability of the currency has prevented the merchants to plan for their businesses, creating uncertainties that have practically paralyzed the bazaar.

The Grand Bazaar has been the heartbeat of the economy and the bazaaris have been among the most loyal supporters of the Islamic Republic. 


Anonymous said...

With the state of the economy, loyalty is thrown out the window and
self preservation comes to mind.
This regime has no economic solutions,therefor even the bazaaris will be looking outside the regime for answers.

Anonymous said...

What a surprise. Greedy bazaris want to make money.

Mark Pyruz said...

I agree with many of the points made in Djavad's latest post, particularly in regards to the parallel market, multiple exchange rates and the government's direction of which sector of Iran's society receives the bigger share of relief.

I also believe contrary to much of the hype being generated over these developments, Iran's economy is not on the verge of collapse, and oil based revenues (a more significant factor than that of production figures) remain at satisfactory levels for the country to withstand the current level of economic war being directed against it.

Anonymous said...

That "Dissident" fellow will become a real dissident soon,LOL!