Friday, October 9, 2026

Protest against inflation and falling currency in Iran

Protest against inflation and falling currency in Iran

Tehran. Protests were seen for the second consecutive day in the capital Tehran in protest against the deteriorating economic situation in Iran and the fall of the national currency Rial to historic lows. Meanwhile, Iranian President Massoud Pezheshkian has acknowledged the “legitimate demands” of the protesters and called on the government to listen to them seriously and take concrete steps to protect the purchasing power of the common people.
President Pezeshkian said on the social media platform ‘X’ (formerly Twitter) that the livelihood of the general public is his biggest daily concern. He said that he has instructed the Home Minister to listen to the demands of the protesters through dialogue with their representatives, so that the government can solve the problems with full force and respond responsibly. Iran’s government news agency IRNA has also confirmed these statements of the President. These protests in Iran are taking place at a time when the Rial has reached a record low against the US Dollar. There has been a sharp decline in the Riyal in the last few weeks, the main reasons for which are believed to be the stringent sanctions imposed by the US and its Western allies, diplomatic pressure and the fear of a possible conflict with Israel. Shopkeepers from two major technology and mobile phone markets in Tehran’s Jomhuri area closed their shops and demonstrated on the streets on Sunday. The same situation was seen in Grand Bazaar and its surrounding areas also. Demonstrations continued on Monday also. In videos viral on social media, protesters were seen raising slogans like “Don’t be afraid, we are together”. Anti-riot forces were deployed at many places during the demonstrations. In some videos, security forces were seen using tear gas to disperse the protesters.
Iran is currently facing many serious challenges. The inflation rate in the country has reached nearly 50 percent, which is among the highest rates in the world. Apart from this, there is a plan to increase taxes by 62 percent under a controversial budget proposal, which may further increase the troubles of the general public. Energy crisis also remains a big problem for the country. The dams that provide water to many big cities including Tehran are almost empty, due to which the water crisis is deepening. In a country with a population of 9 crores, the purchasing power of the people is continuously falling.
Iran’s nuclear program is once again at the center of international controversy. Amid increasing pressure from America, Israel and European countries, memories of the attacks on Iran in June are still fresh. Earlier in 2022-23, hundreds of people lost their lives and thousands were arrested in the nationwide protests following the death of Mahsa Amini. In the current situation, President Pezheshkian’s statement is being seen as a soft stance and initiative for dialogue on the part of the government, but in the coming days, it will be important to see how much the government is able to implement the demands of the protesters.

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