Iran Currency Crisis, Protests, New Central Bank Governor
Analysis based on 6 articles · First reported Dec 31, 2025 · Last updated Jan 03, 2026
The severe depreciation of the Iran — Iranian rial and the resulting protests in Iran indicate significant economic instability, which could deter foreign investment and trade with Iran. The appointment of Abdolnaser Hemmati as the new central bank governor aims to stabilize the currency and control inflation, but the ongoing Western sanctions and internal unrest present substantial challenges.
Iran is facing a major economic crisis marked by the Iran — Iranian rial's record depreciation against the United States, reaching 1.38 million rials per dollar. This currency collapse, coupled with a 40% inflation rate, has triggered widespread protests across Iran, with traders and shopkeepers closing their businesses. In response, President Masoud Pezeshkian's Cabinet appointed Abdolnaser Hemmati as the new governor of the Iran — Central Bank of Iran, replacing Mohammad Reza Aref, who resigned. Hemmati's mandate includes controlling inflation and strengthening the Iran — Iranian rial, despite his previous dismissal from parliament for alleged mismanagement. The economic strain is exacerbated by Western sanctions on Iran over its nuclear program, which were reimposed after Donald Trump withdrew the United States from the 2015 nuclear accord. Protests have turned violent in some areas, leading to arrests and injuries, while Iranian officials have warned against any foreign interference, particularly from the United States and Israel.
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