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Slideshow Trade association condemns Tehran unrest as enemy plot: report Tweet Share this Email Print Related News Oil falls as global economic data dims demand outlook Wed, Oct 3 2012 Iranian police clash with protesters over currency plunge Wed, Oct 3 2012 Iranian smugglers squeezed out by currency in freefall Wed, Oct 3 2012 UPDATE 3-Iran rial plunges as Western sanctions bite Mon, Oct 1 2012 Netanyahu draws "red line" on Iran's nuclear program Thu, Sep 27 2012 Analysis & Opinion Forming ECON Team 4 is next presidentâ€™s top task Iran currency plunge an omen for change? Related Topics World » Middle East Turmoil » DUBAI | Wed Oct 3, 2012 11:57pm EDT DUBAI (Reuters) - An Islamic trade association in Iran strongly condemned the protests that flared in Tehran's main bazaar as an enemy conspiracy and said traders had dealt with the "treacherous" acts, Iran's state news agency reported late on Wednesday. Riot police clashed with demonstrators and arrested money changers in Tehran on Wednesday afternoon in disturbances over the collapse of the Iranian currency, which has lost 40 percent of its value against the dollar over the last week. The Iranian economy has stuttered badly since the start of the year as tough sanctions imposed by the United States and its allies targeting Iran's oil exports and banking sector have resulted in higher inflation and a surge in unemployment. "A number of suspects linked to the enemies of Islam sought to close the market by creating fear, but fortunately Muslim merchants rose up and stopped the conspiracy," the Society of the Islamic Associations of Tehran's Guilds and Bazaar said in a statement. Nearly all sectors of Tehran's bazaar were closed on Wednesday, a sign of the seriousness of the state of Iran's economy, analysts said. Tehran merchants played a major role in Iran's 1979 revolution. "Merchants have condemned these treacherous actions and will not allow the enemies to achieve their goals," the statement added. The statement also blamed the Iranian dissident group Mujahadin-e Khalq for causing the unrest in Tehran's bazaar, which spread to surrounding streets where police fired teargas to disperse protesters. The U.S. State Department removed the group - which calls for the overthrow of Iran's clerical leaders - from its official list of terrorist organizations last week, saying the group had renounced violence. The Society of the Islamic Associations of Tehran's Guilds and Bazaar was established after the Iranian revolution and analysts say it acted as a monitoring organization for profiteering and anti-government activities in the bazaar. The rial's losses accelerated in the past week after the government launched an "exchange centre" to supply dollars to importers of basic goods. Businessmen say the centre failed to meet demand for dollars. Websites providing rates for the rial stopped updating on Tuesday, and Dubai money changers said trade had ground to a halt because of the confusion in Tehran. (Reporting By Marcus George) World Middle East Turmoil Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (1) DennisVictor223 wrote: Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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