Iranian shopkeepers and traders protested in Tehran over the weekend and into Monday after the rial fell to new record lows on the unofficial market, prompting shop closures in parts of the capital and renewed scrutiny of the government’s handling of inflation and currency volatility.
Protests and shop closures were reported in Tehran on Sunday and Monday, with gatherings concentrated in commercial districts including the Grand Bazaar area and major electronics and mobile-phone markets such as Alaeddin and Charsou. Reports also cited activity around Lalehzar, a well-known electrical and electronics corridor.
The unrest followed a sharp fall in the rial on the unofficial market. The Associated Press and other outlets reported that the dollar reached about 1.42 million rials on Sunday before easing to roughly 1.38–1.39 million rials on Monday. Iranian media outlets, witnesses quoted by international news organizations, and circulating social media videos described merchants shutting shops and traders halting sales as they said they could not price goods amid rapid exchange-rate swings.
Accounts of the protests included chants calling for closures and urging unity among demonstrators. Police used tear gas in at least some locations, according to the Associated Press and other reporting, while other outlets said there were no confirmed reports of a crackdown even as security presence increased—highlighting the limited, uneven visibility of events across the city.
Iran’s economic distress has been compounded by years of sanctions and restricted access to foreign currency, as well as domestic policy strains. Reuters reported that the renewed slide in the rial coincided with intensified political pressure on economic officials and came against a backdrop of high inflation and weakened purchasing power.
Official Iranian statistics cited by multiple outlets put year-on-year inflation in December at about 42.2%, with food prices rising around 72% over the past year and health and medical items up roughly 50%. Analysts and reports described the currency shock as likely to add further pressure to prices for everyday goods.
Separately, Iran’s central bank governor, Mohammad Reza Farzin, resigned on Monday, according to state media reports carried by Reuters. His resignation—pending approval by President Masoud Pezeshkian—came as protests spread beyond Tehran to other cities, according to the Associated Press.
Prominent Iran-focused activists also highlighted the demonstrations online. Journalist and activist Masih Alinejad posted that Tehran shopkeepers were protesting because their savings were losing value, while other social-media posts shared videos purporting to show crowds gathering in central Tehran. Such posts offer real-time visibility but can be difficult to independently verify in detail.
The participation of bazaar-linked traders drew particular attention because of the traditional political weight of Iran’s merchant class. With the currency under renewed pressure and inflation still high, the protests underscored continuing public anger over living costs and economic management.
