National Monetary Authority
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Leadership transition amid currency crisis
Iran's Central Bank governor resigned December 29 after the rial collapsed to 1.42 million per dollar—a 70% drop during his tenure—triggering the largest street protests in three years. By December 30, merchants had kept Tehran's historic Grand Bazaar shuttered for three days while crowds in Isfahan, Shiraz, Kermanshah, and Mashhad chanted 'Death to the Dictator' and 'Death to Khamenei' as security forces fired tear gas and live ammunition. Foodstuff prices have jumped 72% year-over-year.
Updated Dec 30, 2025
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