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Iran Unrest Widens as Rial Collapse Spurs Bazaar Strikes and Campus Protests

Authorities are coupling a central bank shake‑up with a call to heed protesters’ “legitimate” demands.

Overview

  • Protests and strikes entered a third day, spreading from Tehran’s Grand Bazaar and electronics markets to universities and cities including Isfahan, Shiraz, Karaj, Hamedan, Kermanshah, Qeshm, Malard and Yazd.
  • The dollar traded on the free market around 1.41–1.45 million rials as very high inflation further eroded purchasing power and fueled price volatility.
  • President Masoud Pezeshkian accepted Central Bank governor Mohammad Reza Farzin’s resignation and appointed former chief Abdolnasser Hemmati to the post.
  • Security forces maintained a visible presence and used tear gas and water cannon in some areas, while a viral video showed a seated protester facing lines of motorcycle police.
  • Officials announced a one‑day closure of universities in 18 of 31 provinces to conserve energy, and government figures signaled openness to talks with trade groups and student representatives.