The currency crisis behind Iran’s protest explosion

The currency crisis behind Iran’s protest explosion

An Iranian trader counts money in Tehran's Grand Bazaar. Photo: Reuters/Raheb Homavandi

In early January, several currency trackers briefly displayed the Iranian rial’s value as “$0.00,” unable to process the speed and scale of the depreciation, making it unexchangeable on important international trading platforms. The fallout quickly translated into a protest in Teheran’s bazaar district and eventually led to a mass unrest. Unlike the 2019 fuel price […]

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