US EditionIran Central Bank governor resigns as protests erupt over currency drop
Mohammad Reza Farzin resigned after the rial hit 1.42 million to the dollar, fueling protests and inflation over 42%, with shop closures across Tehran and other cities.
- On Monday, Central Bank Governor Mohammad Reza Farzin resigned amid unrest as traders and shopkeepers rallied in Saadi Street and the Shush neighborhood near Tehran's Grand Bazaar.
- On Sunday, Iran's rial plunged to 1.42 million to the dollar as December inflation reached 42.2% and food prices rose 72%, the state statistics center reported.
- Witnesses said traders shut their shops and urged others to follow, briefly halting trade while ILNA reported many businesses stopped trading; security forces used tear gas and Fars said, "Minor physical clashes were reported... between some protesters and the security forces."
- By presidential decision, Abdolnasser Hemmati will be appointed governor, presidency communications official Mehdi Tabatabaei posted, adding the move requires President Masoud Pezeshkian's approval and does not "necessarily" hinge on changing the governor.
- Sanctions and snapback measures have further strained Iran's economy, while demonstrations broadened on December 29 across Jomhuri Street and adjacent commercial zones amid market anxiety.
108 Articles
108 Articles
Protests erupt in Iran as currency hits record low, central bank chief quits
Iran’s largest protests in three years erupted after the rial plunged to a record low, driving up prices, forcing the central bank chief’s resignation and intensifying anger over inflation and economic mismanagement.
"Death To The Dictator": Iran Protests Turn Openly Defiant As Markets Shut Down
by Emmitt Barry, Worthy News Washington D.C. Bureau Chief (Worthy News) – Chants of “death to the dictator” rang out across Tehran as thousands of merchants, students, and residents joined expanding protests sparked by Iran’s deepening economic collapse. Security forces responded with tear gas and rubber bullets as large sections of the capital, including parts of the Grand Bazaar, were shuttered in protest. What began as demonstrations over soa…
Iran Sees Biggest Protests in 3 Years
Iran's largest protests in three years erupted Monday after the country's currency plummeted to a record low against the US dollar and the head of the Central Bank resigned, per the AP . State TV reported the resignation of Mohammad Reza Farzin, while traders and shopkeepers rallied in downtown Tehran as...
Iranians expressed growing anger at the country's ruling regime on Monday as vendors in Tehran closed their shops in protest against the country's economic crisis, with reports of clashes and tear gas being used to disperse demonstrators. There were widespread disruptions in the capital's historic Grand Bazaar, with traders closing their businesses due to rising prices and a falling currency. Angry crowds gathered to demonstrate against the rial…
Major protests have erupted in Iran after the country's currency plunged to a record low. Several shopkeepers have gone on strike to protest high prices. Now the head of the central bank has announced his resignation.
Mossad encourages Iranians to revolt in social media message
As protests widened, Iran’s central bank leadership was thrown into uncertainty. By Vered Weiss, World Israel News The Mossad publicly urged Iranians to take to the streets against their government on Monday, issuing an unusually direct call for protest as economic unrest intensified across the Islamic Republic. Using a Persian-language post on X, Mossad addressed Iranian citizens as demonstrations spread through major cities. “Go out together i…
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