Tehran, Iran – Protests have spread in the Iranian capital, Tehran, for the second day in a row, and a number of shop owners in the Iranian capital, Tehran, have closed their doors.
This is a protest move reflecting growing public anger over the sharp deterioration in economic conditions.
The accelerating decline in the value of the national currency, amid growing fears of a wider wave of inflation.
Local media reported that protest gatherings took place in several major markets in central Tehran.
Traders expressed their dissatisfaction with the economic instability and fluctuating exchange rates.
They called on the government to take urgent measures to curb the decline of the riyal
and to develop a clear economic strategy to address the escalating crisis.
Iranian rial falls to a record low
According to economic reports, the Iranian rial has recorded a new record low against the dollar in the unofficial market.
The price of one dollar has exceeded 1.4 million riyals, compared to about 820,000 riyals just one year ago.
This sharp decline leads to unprecedentedly high inflation rates.
With daily jumps in the prices of basic goods and services, the cost of living is increasing for both citizens and merchants.
The semi-official ISNA news agency reported that one of the largest mobile phone stores
in Tehran closed its doors in protest against the economic situation.
This is considered an indication that the protests are spreading to include different business sectors.
In contrast, the Fars News Agency warned against attempts to exploit
these gatherings to destabilize the country internally, calling for caution in dealing with the ongoing developments.
Pressure from international sanctions
The Iranian economy has been under considerable pressure for years
as a result of Western sanctions, which have directly affected the financial and commercial sectors.
These pressures have intensified since the United Nations reimposed international sanctions on Tehran at the end of last September.
This comes after they had been partially lifted as part of the nuclear
agreement previously concluded between Iran and the major powers.
Observers believe that the continued decline of the currency
and the absence of effective economic solutions could lead to further protests.
This comes at a time when the government is facing increasing challenges to maintaining economic and social stability.
