Overview
- Iran’s rial trades around 1.1–1.4 million to the U.S. dollar on open-market trackers such as Bonbast, driving import costs higher and turning late‑December bazaar strikes into nationwide protests.
- Security forces have cracked down across all provinces, with rights-group tallies reported by outlets ranging from hundreds to more than 2,400 dead, figures that remain disputed and difficult to verify during communications blackouts.
- President Masoud Pezeshkian’s push to remove preferential exchange rates and tighten the budget has been paired with monthly cash transfers of 10 million rials to most citizens, yet markets remain unstable and unrest continues.
- Washington has escalated pressure as President Donald Trump announced a 25% tariff on any country doing business with Iran and warned of stronger options, while Arab governments keep reactions muted over fears of regional instability.
- Analysts trace the crisis to years of sanctions, lost oil revenue, chronic inflation and an IRGC‑tilted economy, with reports of households resorting to installment purchases for basics and other extreme coping measures.