Overview
- The rial fell to roughly 1.42 million per US dollar on Sunday before trading near 1.38 million on Monday, marking extreme volatility.
- Hundreds rallied on Saadi Street and near the Grand Bazaar as many traders shut or curtailed business, according to witnesses and ILNA.
- Anti-riot forces were out in large numbers and tear gas was used to disperse crowds in parts of downtown, videos posted on social media showed.
- State figures reported food prices up 72% and health items up 50% year on year, with a recent petrol price change and plans for higher taxes adding pressure.
- Long-running sanctions following the 2018 US exit from the nuclear deal, plus this year’s UN snapback, have restricted Iran’s access to foreign assets and trade.