Iran Rocked by Mass Protests Amid Currency Collapse, Economic Crisis

• Mass protests erupted across Iran on December 28-29 due to severe inflation and the plummeting national currency, the rial.
• Demonstrators, including traders and shopkeepers, shut businesses and chanted anti-government slogans in Tehran and other major cities.
• Iran's rial hit a record low against the US dollar, with inflation at 42.2% and food prices up 72%, severely impacting ordinary citizens.
• President Masoud Pezeshkian urged his government to address "legitimate demands"; the central bank head reportedly resigned, and parliament rejected the budget.
• The crisis is fueled by US sanctions, conflict fears, and wider discontent with the theocratic establishment, including energy shortages and planned tax hikes.

Why It Matters: Iran faces widespread unrest as its economy crumbles under inflation and currency collapse, challenging the government.