"Alborz, a textile merchant in the central Iranian city of Isfahan, decided he could no longer sit on the sidelines. He closed his shop and took to the streets, joining merchants across Iran who shuttered their stores and students who took over their campuses to protest against declining economic conditions. The sudden loss of purchasing power pushed Alborz and tens of thousands of other Iranians into the streets, where protests are now entering their fourth day."
"The unprecedented depreciation of the national currency on Sunday when the Iranian rial dropped to 1.42m to the US dollar, a more than 56% decrease in value in six months was a breaking point for an already struggling economy and population. The plunging currency has caused soaring inflation, with food prices up by 72% on average compared with the same time last year."
An unprecedented collapse of the Iranian rial and soaring inflation have driven widespread protests across Iran. Merchants shuttered shops, students occupied campuses, and demonstrators blocked streets from Tehran to other cities. The rial plunged to 1.42m per US dollar, a more than 56% fall in six months, triggering food price increases averaging 72% year-on-year. Sanctions, frozen overseas funds, limited foreign exchange and heavy import reliance intensified the economic shock. Protesters, including small business owners fearing jail, cited loss of purchasing power and inability to afford essentials. The protests mark the largest nationwide unrest since 2022's mass demonstrations.
Read at www.theguardian.com
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