Iran's Currency Crisis: Protests and Resignation Amid Economic Tumult

Iran's Central Bank head resigned amid widespread protests in Tehran and other cities due to the rial's record low against the dollar. Traders, reminiscent of the 1979 Revolution's role, shut shops as inflation and plummeting currency strain households. Tensions rise with looming sanctions and potential conflict.

In a significant development, the head of Iran's Central Bank, Mohammad Reza Farzin, resigned as the nation witnessed escalating protests in Tehran and other cities. The Iranian currency, the rial, plunged to a record low against the US dollar, triggering unrest among traders and shopkeepers.

Monday's demonstrations, reminiscent of the 1979 Islamic Revolution, saw hundreds rallying on Saadi Street and other key locations. Traders, historically crucial to Iran's political shifts, shut their businesses, leaving urban hubs like Mashhad and Isfahan simmering with discontent.

Economic anxiety is fueled by hyperinflation threats and concerns over potential conflicts, particularly following sanctions by the United Nations. With the rial depreciating sharply, Iran's economic prospects appear bleak, stirring fears of further instability.

(With inputs from agencies.)