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Inside Iran’s Protests: How a Plunging Currency Set Off Widespread Unrest

Protests erupted after the rial fell sharply, with strikes and demonstrations spreading nationwide amid inflation above 40% and incomes dropping by up to 75%, officials said.

  • On December 28th, the Iranian rial plunged to an all-time low, unleashing anger as shopkeepers in Tehran's bazaars struck and protests spread nationwide over two weeks, killing dozens, rights groups say.
  • Months of currency depreciations and inflation over 40 per cent left merchants reeling, while incomes dropped to a third to a fourth of previous levels and business owners including Saeed faced layoffs and lost savings.
  • At Shiraz University, students organised protests in coded chat groups, university officials locked dormitory gates, and security forces used motorcycles, batons, and pepper spray as videos showed assaults and shootings in Ilam earlier this month.
  • Authorities both acknowledged economic pain and threatened harsh punishments, as Masoud Pezeshkian, Iranian president, replaced the central bank governor and ordered a monthly payment roughly equivalent to $7 while Tehran's prosecutor said `terrorists` could face death.
  • The unrest comes at a precarious moment for Iran's authoritarian government as Israel's strikes weakened its regional influence, while economic suffering fuels unrest in impoverished towns and border provinces, raising warnings about upheaval from Esfandyar Batmanghelidj.
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13 Articles

Lean Left

The demonstrations of the last two weeks in Iran reveal a deep and complex structural unrest, in which economic demands constitute only the tip of the iceberg.

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Invezz broke the news in on Monday, January 12, 2026.
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