Rising prices, falling currency: Iran’s economy faces rocky road
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Home Iran’s currency has plunged from 34,000 rials/USD in 2016 to 430,000 in 2022 amid sanctions Iran’s economy is going through one of its most difficult periods in years, fueled by sanctions, high inflation, and a significant drop in the value of the national currency, the rial. These pressures have had a direct impact on living standards and have also fueled recent protests. The protests began on Dec. 28 in commercial hubs in the capital Tehran, when shopkeepers, merchants, and small business owners staged strikes and demonstrations to protest soaring inflation, the collapsing rial, and deteriorating economic conditions, and have since grown into nationwide anti-government expressions of discontent involving workers, students, and others across multiple cities. The Iranian president said Sunday that his government is determined to address Iran’s economic problems amid the protests. Masoud Pezeshkian said the government admits to “shortcomings and problems” and is working hard to alleviate the people’s concerns, especially on the economy.
Published: January 15, 2026 4:45 pm
Source: The Express Tribune — Read original