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Iran’s Cost-of-Living Protests Widen as Students Join and Central Bank Chief Is Replaced

A collapsing rial with prices surging has turned a bazaar strike into a broader challenge over livelihoods.

Overview

  • Demonstrations continued for a third day and spread beyond Tehran to cities including Isfahan, Karaj, Kermanshah, Shiraz, Yazd and Qeshm, with partial market closures and student rallies at major universities.
  • Security forces deployed heavily in central Tehran and used tear gas to disperse crowds, with riot police guarding key squares and areas around campuses.
  • President Masoud Pezeshkian told officials to hear the protesters’ “legitimate demands,” and the government said it is opening dialogue with representatives of the movement.
  • The government accepted the resignation of Central Bank governor Mohammadreza Farzin and named Abdolnasser Hemmati as his successor, with the handover set for Wednesday.
  • The rial hit a record low around 1.4 million per US dollar before a slight rebound, while official data show annual inflation near 52% and even sharper food price increases; authorities are preparing short‑term relief via a food basket and a food bonus pending approval.