Iran has been shaken by massive protests following the collapse of the rial and the resignation of the Central Bank chief. Traders in Tehran and other cities have protested against the cost of living.

On Monday, Iran witnessed the largest protests in the last three years, triggered by the dramatic collapse of the national currency, the rial, which hit a record low against the US dollar. The resignation of the Central Bank chief, Mohammad Reza Farzin, amplified the public's discontent. The protests began in the bazaars of Tehran and spread to other cities, including Isfahan and Shiraz, with merchants closing their shops and demanding solidarity.

The Iranian president, Massoud Pezeshkian, called for listening to the legitimate demands of the protesters, who are facing rampant hyperinflation and rising living costs. Additionally, the continued depreciation of the rial has led to severe economic volatility, and the prices of basic goods have alarmingly increased, affecting sales and causing a crisis of confidence among merchants and consumers.