Iranian Rial Collapse Sparks Economic Protests Across Country

International Desk: PNN

Protests that began in Tehran in December over the steep decline of the Iranian rial have spread nationwide. Historic areas like the Grand Bazaar and Republic Avenue saw merchants close shops in protest.

The rial lost nearly half its value over the past year, causing daily financial losses for businesses. The unrest spread to cities in western, southern, and central Iran.

Unlike past protests, political demands are limited; citizens are primarily reacting to inflation, stagnant wages, unemployment, and rising prices. The government has introduced subsidies, plans to improve living standards, and appointed a new central bank governor to stabilize the currency.

Some areas have returned to calm, but economic instability continues to affect daily life.