Particle.news
Download on the App Store

Tehran Protests Over Soaring Prices Extend Into Third Day as Rial Hits Record Lows

Officials signal a focus on stabilizing the currency following a record slide in the rial.

Overview

  • Thousands of citizens and merchants demonstrated across central Tehran after rallies that began Sunday in the city’s main mobile‑phone market spread into Tuesday.
  • Riot police used tear gas to disperse crowds, according to images published by local media including the Fars news agency.
  • President Massoud Pezeshkian urged authorities to hear protesters’ “legitimate demands,” and Parliament Speaker Mohammad Bagher Ghalibaf called for steps to lift purchasing power.
  • The presidency named Abdolnasser Hemmati as governor of the Central Bank, while Judiciary chief Gholamhossein Mohseni Ejei ordered sanctions against those blamed for currency fluctuations.
  • The rial traded above 1.4 million per US dollar on the informal market and official data put annual inflation at 52%, as authorities ordered schools, banks, and public offices closed on Wednesday citing cold and energy savings.