Iranian Students Join Traders to Stage Nationwide Protests as Rial Plunges and Inflation Soars

Widespread protests erupted across Iran after shopkeepers and bazaar merchants struck in Tehran’s Grand Bazaar and downtown mobile-phone markets, with students quickly joining demonstrations on university campuses and streets.

“Some protestors chanted "death to Islamic Republic" as they took to the streets”

ABC News

The immediate economic triggers are consistently reported: the rial plunged to roughly 1.38–1.45 million per U.S. dollar on the informal market, annual inflation is reported in the 42–52% range depending on the source, and food and medical costs have jumped sharply.

Several outlets note the central bank governor Mohammad Reza Farzin resigned amid the turmoil and state and private exchange rates swung dramatically in days.

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Economists and analysts cited across sources warn the rapid currency collapse, rising prices and proposed tax and fuel-price changes risk pushing Iran toward hyperinflation and deeper social unrest.

Authorities reacted with a mixed approach: the government publicly offered dialogue and limited economic measures while security forces in several cities used tear gas and force to disperse crowds.

“Protests have erupted across Iran after the rial plunged to record lows, prompting shopkeepers in Tehran to strike and march on Sunday and spreading to other cities and university campuses over the next two days”

Al Jazeera

President Masoud Pezeshkian is reported to have accepted the central bank chief's resignation, asked the interior minister to open talks with protesters, and pledged monetary reforms; state media and officials also warned against foreign interference.

At the same time, many outlets reported the deployment of riot police, the use of tear gas and, by some accounts, shootings and beatings in clashes with demonstrators.

The protests produced symbolic images and contested narratives, with the Grand Bazaar's multi-day shutdown and videos of lone protesters confronting security forces widely circulated and compared to historic acts of defiance.

Students reportedly tore down a 'Supreme Leader's Representation' sign at one university.

AnewZ

Commentators and outlets variously described the unrest as the largest public dissent since the 2022-23 movement or as smaller than the 2019 and 2022 upheavals, reflecting differences in scope assessments and editorial framing.

Analysts and commentators warn the economic shock could spill into longer-term political instability if structural problems are not addressed.

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Associated Press

Forecasts note GDP contractions and mounting unemployment.

Associated Press

Economists warn of hyperinflation risks.

Some outlets frame the crisis as the product of sanctions interacting with domestic mismanagement.

Assessments vary: left-wing and activist outlets emphasize class dimensions and regime culpability, regional outlets stress sanctions and geopolitical shocks, and mainstream outlets focus on immediate market indicators and official responses.

The future course is unclear, and sources are uncertain whether current unrest will broaden into a sustained nationwide uprising or remain episodic.

Many explicitly note that reporting is incomplete or evolving.