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Iran Names Hemmati Central Bank Chief as Tehran Bazaar Walkouts Recede

Officials move to steady a currency crisis following record rial losses that triggered two days of merchant unrest.

Overview

  • Most shops in central Tehran reopened Tuesday as security forces watched key squares after two days of bazaar closures and rallies.
  • President Massoud Pezeshkian told the interior minister to open talks with protest representatives, calling their grievances legitimate.
  • The government said Abdolnasser Hemmati will take over the Central Bank on Wednesday, and the parliament speaker pressed for measures to lift purchasing power.
  • The judiciary ordered swift sanctions against alleged currency manipulators, as images showed tear gas and minor scuffles during Monday’s crowds.
  • The rial recently hit an informal record near 1.4 million per dollar and annual inflation reached 52% in December, with UN sanctions reimposed in September adding pressure.