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Iran Merchants Extend Protests as Rial Turmoil Topples Central Bank Chief

The president orders talks with merchant representatives.

Overview

  • Shop closures and street demonstrations in Tehran continued into a second day and were also reported in Isfahan, Shiraz and Mashhad.
  • After plunging to about 1.42 million rials per US dollar on Sunday, the black‑market rate partially recovered to roughly 1.38–1.39 million on Monday.
  • State outlets said Central Bank governor Mohammad Reza Farzin resigned, with Abdolnasser Hemmati announced as his replacement starting Wednesday.
  • Crowds voiced anti-government slogans as police used tear gas to disperse gatherings, and the judiciary warned that currency hoarders would be punished.
  • In a rare public message, Israel’s Mossad posted on X encouraging protesters, adding an external political wrinkle to the unrest.