Overview
- Iran’s currency fell to roughly 1.42 million rials per U.S. dollar on Sunday before stabilizing near 1.38–1.39 million on Monday on the open market, according to multiple reports.
- Shopkeepers and traders closed stores and rallied in central Tehran, including Saadi Street, Shush and the Grand Bazaar, with protests also reported in Isfahan, Shiraz and Mashhad.
- Security forces used tear gas to disperse some gatherings and state-aligned media warned of potential destabilization, while videos showed political slogans at several sites.
- Central Bank Governor Mohammad Reza Farzin resigned and former economy minister Abdolnaser Hemmati was named to replace him, as officials discussed currency and banking measures.
- Official data show annual inflation at about 42.2% in December, with food prices up 72% and medical items 50%, as planned tax increases and fuel pricing changes add to public concern.