Iran Rocked by Biggest Protests Since 2022 as Currency Crashes, Central Bank Chief Resigns

• Iran experienced its largest protests since 2022 following the rial's record low against the US dollar and the resignation of central bank chief Mohammad Reza Farzin.
• Demonstrations began in central Tehran, including Saadi Street and the Shush area near the Grand Bazaar, and quickly spread to cities like Isfahan, Shiraz, and Mashhad.
• The rial plunged from 430,000 to 1.42 million per dollar, intensifying inflation with annual rates at 42.2% and food prices up 72%.
• Traders and shopkeepers closed businesses, chanting anti-government slogans, while police used tear gas to disperse crowds in parts of Tehran.
• Economic stress, exacerbated by international sanctions and geopolitical tensions, is seen as a key catalyst for the widespread discontent.

Why It Matters: Iran faces widespread unrest fueled by a crashing currency, high inflation, and economic crisis.