Back to today’s briefing

Story perspectives

Tehran's Grand Bazaar Faces Decline Amid US-Israel Conflict

3/20/2026

50 8

Summary

Story summary

Tehran's Grand Bazaar has seen activity fall ahead of the Persian New Year and Eid al-Fitr due to the US-Israel conflict with Iran.
Ms. Nisrin, who earns $130 a month, says rising prices amid inflation have worsened since the war began on February 28.
Airstrikes damaged property and some shops are closed, illustrating the bazaar's economic impact.
Shopkeeper Pouria Rahbar-Yektashenais says the business, which had begun to recover, is affected.

History

Historical Context

The Iranian Revolution of 1979, which overthrew the Pahlavi monarchy, established the Islamic Republic under Ayatollah Khomeini. This shift led to significant economic turmoil, with inflation soaring and the rial losing over 70% of its value by 1980. Today, ongoing conflicts, particularly with the US and Israel, continue to exacerbate inflation, impacting local businesses like Tehran's Grand Bazaar.

1 of 2

Story summary

Tehran's Grand Bazaar has seen activity fall ahead of the Persian New Year and Eid al-Fitr due to the US-Israel conflict with Iran.
Ms. Nisrin, who earns $130 a month, says rising prices amid inflation have worsened since the war began on February 28.
Airstrikes damaged property and some shops are closed, illustrating the bazaar's economic impact.
Shopkeeper Pouria Rahbar-Yektashenais says the business, which had begun to recover, is affected.

1 / 2