Protests Erupt in Iran for Third Consecutive Day Amid Currency Crisis

Protests and Strikes in Iran Following Currency Devaluation

Protests and strikes have erupted across Iran in response to rampant inflation and the devaluation of the national currency, affecting the capital city, Tehran, and other major cities for the third consecutive day. The demonstrations commenced on Sunday when merchants in Tehran's Grand Bazaar went on strike due to the record slump of the Iranian rial against the US dollar in open market trading.

Since then, verified videos from BBC Persian have shown demonstrations occurring in cities such as Karaj, Hamedan, Qeshm, Malard, Isfahan, Kermanshah, Shiraz, and Yazd. Police have been observed using tear gas to disperse the protesters. The Iranian government has acknowledged the protests, stating that it will listen “patiently, even when confronted with harsh voices.”

President Masoud Pezeshkian indicated on social media platform X that he has instructed the interior minister to engage in negotiations with the so-called “representatives” of the protesters to address issues and act responsibly. He also accepted the resignation of Iran's central bank governor, Mohammadreza Farzin, appointing former Minister of Economy and Finance Abdolnasser Hemmati in his place.

University students have joined the protests, chanting anti-government slogans such as “Death to the Dictator,” a reference to Supreme Leader Ayatollah Ali Khamenei, who holds ultimate power in Iran. Some protesters have been heard expressing support for the late Shah Mohammad Reza Pahlavi, who was ousted during the 1979 Islamic Revolution, chanting “Long Live the Shah.”

In response, Reza Pahlavi, who lives in exile in the United States, expressed solidarity on social media, stating, “I am with you. Victory is ours because our cause is just and because we are united.” He added that “as long as this regime remains in power, the economic situation of the country will continue to deteriorate.”

The US State Department's Persian account on X also expressed support for the protests, stating that the US “appreciates their courage” and stands with those seeking “dignity and a better future” after years of failed policies and poor economic management.

Iran was reported to be a major topic during a meeting between American President Donald Trump and Israeli Prime Minister Benjamin Netanyahu in Florida. Following a joint press conference, Trump declined to state whether he supports a regime change in Iran but noted, “They have many problems: massive inflation, their economy is in crisis, their economy is not good, and I know that people are not very happy.” The President further suggested he may back a new round of Israeli airstrikes against Iran if the country rebuilds its ballistic missile or nuclear programs.

During a 12-day war between Israel and Iran in June, the US conducted airstrikes on key uranium enrichment sites in Iran. Iran insists that its nuclear program is entirely peaceful. President Pezeshkian promised on Tuesday that Iran's response to “any oppressive act of aggression” would be “harsh and regrettable.” The Supreme Leader has repeatedly asserted that the Israeli government hoped to incite massive protests in Iran during the war to overturn the regime.

“They wished to create sedition in the streets... But the people were not influenced by what the enemy desired,” Khamenei said in September.