Tehran shopkeepers closed stores for a second day on Monday to protest economic woes and wild swings in Iran's currency, the rial, media reports said. The rial plunged to new lows on the unofficial market, with the US dollar at 1.42 million rials on Sunday—up from 820,000 a year ago—and the euro near 1.7 million rials, per price trackers. Rates dipped slightly Monday to 1.39 million rials per dollar and 1.64 million per euro.
ILNA, a pro-labor agency, reported demonstrations at central Tehran bazaars, where protesters demanded urgent government action to curb exchange-rate volatility and outline a clear economic plan. Price swings have frozen sales of imported goods, as sellers and buyers delay deals amid uncertainty. "Business is impossible under these conditions," protesters told ILNA.
State agency IRNA said shopkeepers halted sales to avoid losses, while some chanted slogans. Fars news agency showed crowds blocking a major shopping street, with one photo suggesting tear gas use and minor clashes with security forces, warning of potential instability. On Sunday, ISNA reported shopkeepers and mobile vendors at a key mall briefly shut stores over currency damage to their market. Chief Justice Gholamhossein Mohseni Ejei urged swift punishment for those causing fluctuations, per Mizan agency. The president appointed Abdolnasser Hemmati as central bank governor—previously dismissed over rial depreciation—announced Mehdi Tabatabaei on X.
President Masoud Pezeshkian submitted next year's budget Sunday, promising to tackle inflation and living costs, including a 20% wage hike—far below December's 52% year-on-year inflation, which understates rises in essentials. Iran's sanction-hit economy worsened after UN reinstatement of nuclear-linked sanctions in late September, lifted a decade ago. Western powers and Israel claim Iran seeks nuclear weapons, which Tehran denies. US talks are stalled, with June's 12-day war against Israel adding uncertainty. Pezeshkian accused the US, Israel, and Europe of "total war" in a Saturday interview.
