Iran Protests Erupt as Rial Collapses to Historic Low

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Protests broke out across Tehran on Monday after Iran’s currency plunged to a record low of roughly 1.4 million rials per US dollar. Locals blame poor fiscal management by the central bank as the value of savings continues to evaporate.

The rial has lost more than 40% of its purchasing power since Iran’s two-week conflict with Israel in June. Adding to uncertainty, Central Bank Governor Mohammad Reza Farzin resigned amid the unrest, leaving markets rattled as inflation and currency instability deepen.

[tradelikepro]

that is scary