PROTESTERS angry over Iran’s ailing economy were tear-gassed by security forces during a sit-in at Tehran’s Grand Bazaar today.

The demonstration at the market, the beating heart for centuries of both Iran’s economic and political life, represents the latest signal that the protests likely are to continue as the country’s rial currency fell to a record low today.

Already, violence surrounding the protests has killed at least 35 people with authorities detaining more than 1,200 others, activists abroad say.

Meanwhile, the situation is likely to worsen as Iran’s Central Bank drastically reduced the subsidised exchange rates for US dollars it offers to importers and producers in the country.

Iran’s reformist President Masoud Pezeshkian signalled today that the crisis may rapidly be moving beyond the control of officials.

“We should not expect the government to handle all of this alone,” Mr Pezeshkian said in a televised speech. “The government simply does not have that capacity.”