Iran has been gripped by its largest wave of street protests in years after a sharp deterioration in economic conditions sent prices soaring and pushed the national currency to a record low against the US dollar.
Demonstrations broke out in Tehran and several major cities as traders, workers and ordinary citizens voiced anger over rising living costs, shrinking purchasing power and what they described as government mismanagement of the economy. Videos circulating on social media showed shopkeepers closing their businesses and crowds chanting slogans against inflation and corruption.
The unrest follows a steep slide in the value of the Iranian rial, which has lost significant ground in recent weeks, accelerating price increases for imported goods and essential commodities. Traders in Tehran’s Grand Bazaar, traditionally a bellwether of economic sentiment, were among the first to protest, warning that continued currency weakness could cripple businesses and deepen poverty.
Iran’s economy has been under sustained pressure from international sanctions, particularly those linked to its nuclear programme, which have restricted oil exports, limited access to foreign currency and discouraged foreign investment. Officials have also struggled to stabilise the market amid declining revenues and rising public spending.
Government representatives acknowledged the economic strain but urged calm, insisting that measures were being taken to control inflation and stabilise the currency. State media reported that authorities were monitoring the situation closely, while security forces increased their presence in some protest areas.
For many Iranians, however, frustration has been building for months as wages fail to keep pace with rising food, housing and fuel costs. Economists say the latest protests reflect deeper structural problems, including chronic inflation, low productivity and a lack of investor confidence.
Analysts warn that unless meaningful reforms are implemented and external pressures ease, Iran could face continued social unrest as economic hardship intensifies.
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