Merchants in Tehran’s bazaar went on strike on Sunday to protest inflation and the rise in currency exchange rates.
A group of Tehran’s bazaar merchants protested inflation and rising currency exchange rates by striking and closing their shops in the 15 Khordad area. They called on other merchants to join the strike.
Reports and videos indicate that on Sunday, December 29, shoemakers in the “Seyed Vali” lane of the 15 Khordad district began the strike, followed by fabric merchants and clothing retailers.
The striking merchants chanted slogans during their gathering to encourage others to join, including “Don’t be afraid, close down” and “Dignified merchants, support, support.”
According to reports, the strike occurred in Abbas Abad market, home to fabric merchants, and also in Bagh Sepahsalar, where shoemakers are based.
The strike by Tehran’s bazaar merchants coincided with successive record-breaking currency exchange rates, sparking a new wave of inflation.
The value of the US dollar has been continuously rising in recent weeks, reaching over 810,000 rials per dollar on Sunday.
The depreciation of the rial has made raw materials more expensive, forcing many merchants to shut down their workshops.
Hamidreza Rastgar, the head of Tehran’s Chamber of Guilds, explained the reason for the shoemakers’ protest: “Shoemakers are objecting to the continuous rise in exchange rates. Since the beginning of the year, the rates have seen a significant jump, directly affecting the costs of this sector’s products.”
According to Rastgar, shoemakers are “concerned that products made with raw materials priced at 810,000 rials per dollar will be unaffordable for consumers.”
Reports indicate that security forces were present at the gathering of striking merchants in Tehran.