Protesters swarm Iran´s Grand Bazaar in Tehran

Valiollah Seif the governor of the Central Bank of Iran

Valiollah Seif the governor of the Central Bank of Iran

On Monday in Tehran once again began the social protests caused by the rise in price of goods on the shelves and the huge devaluation of the Rial, which destroys local businesses, increasing the cost of imports.

The economic trouble also comes as global firms have pulled away from Iran after President Donald Trump's decision to withdraw America from Tehran's nuclear deal with world powers.

He said the protest was against "the high exchange rate, foreign currency fluctuations. goods being blocked at customs, and the lack of clear criteria for duties".

Meanwhile traders stopped buying and selling dollars at the unofficial forex market, aka the black market, Iranian Students News Agency ISNA reported on Sunday.

In the Grand Bazaar, hundreds staged a similar protest, videos posted on social media show.

Iran is a "powder keg", tweeted Bolurchi, noting demonstrators in front of parliament were chanting, "Our enemy is right here, they lie when they say it is America".

Iranian officials attempted to play down the demonstration, with Ali Fazeli, the head of Iran's Chamber of Guilds, claiming that the protesters' demands were already being dealt with.

"In the coming months we will see much more intervention in the economy by the government, a centrally imposed style of management by dictat", he said.

Traders from the bazaar, whose merchants supported Iran's 1979 Islamic revolution, told Reuters by telephone that most shops remained closed.

At the end of a year ago, similar economic protests roiled Iran and spread to some 75 cities and towns, becoming the largest demonstrations in the country since its 2009 disputed presidential election.

There were also large-scale anti-government protests fuelled by Iran's economic problems in late December and early January.

It was the biggest protest in Tehran since 2012, when worldwide sanctions related to Iran's nuclear activities were crippling its economy. Analysts believe hard-liners likely encouraged the first protest that took place in Mashhad to try to weaken President Hassan Rouhani, a relative moderate.

The protests then spiraled out of control, with people openly criticizing both President Rouhani and Supreme Leader Ayatollah Ali Khamenei.

Iran's currency has plunged nearly 50 percent in value in the past six months, with the United States dollar now buying around 85,000 rials on the open market. Iran's Fars News agency reportedly went so far on Monday as publishing an article from the country's fellow state-run daily publication Sobh-e No saying Iran's government is ready to "bow down to foreign threats and sit at the negotiation table".

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