Iran has seen its largest protests in the past three years after the national currency plunged to a record low against the US dollar, Adyrna’s correspondent reports, citing CNN.
Iran’s state television announced that Central Bank Governor Mohammad Reza Farzin has stepped down from his post.
Protests by traders and shop owners took place in central Tehran, near the Grand Bazaar in the capital, as well as in major cities such as Isfahan, Shiraz, and Mashhad. In some districts of Tehran, police used tear gas to disperse demonstrators.
On Sunday, the Iranian rial fell to 1.42 million per US dollar. On Monday, it was trading at around 1.38 million rials per dollar.
Over the past week, rumors had circulated about Farzin’s possible resignation. When he took office in 2022, the exchange rate stood at approximately 430,000 rials per dollar.
The sharp devaluation of the currency has intensified inflationary pressure, leading to rising prices for food and everyday consumer goods and further worsening the population’s financial situation. According to the Statistical Center of Iran, the inflation rate reached 42.2 percent in December year-on-year, up by 1.8 percent compared to November. Over the past year, food prices have increased by 72 percent, while medical goods have risen by 50 percent.
