Yesterday, a sharp crash in the value of the Iranian Rial was reported, with some sources reporting that one USD would now be worth over 660,000 Iranian Rials in some unofficial markets.
Others stressed that the already weak currency suffered a blow, leading to the loss of 30% of its worth overnight, despite the regime’s official digits showing no major changes.
One member of the Majlis (the Iranian parliament) demanded to know from chair Mohammad Baqer Qalibaf which steps the authorities are going to take. He called on the parliament to meet with the governor of the country’s central bank and wondered, “If we don’t have money, why are we printing more? And if we do have money, why is it so costly?”
Qalibaf answered that they are “aware of the situation and will hold meetings inshallah,” sparking a wave of disappointed and sarcastic comments.
One user commented ironically, “Oh, you’re going to hold a meeting? Bulls**t.” Another user uploaded a video showcasing the Rial’s loss of buying power, showing how a 50,000 Rial banknote ($1.2) used to be enough to buy 30 eggs only a decade ago, while nowadays it suffices to buy only one single egg.
Economic demonstrations occur across Iran
Several small demonstrations have taken place in different parts of Iran over the past several days in response to the economic hardships.
Some of the protests included a farmer’s strike in eastern Esfahan, during which farmers took their tractors to the streets to protest water-related measures, a protest by retired pensioners in Arak against the cost of living, and a truck drivers’ demonstration in front of the local headquarters of the national petrol company in Sistan and Balochistan, protesting the price of fuel.
Another protest was reported with a medical staff demonstration in Shiraz protesting their salaries not being paid on time.
Additionally, disruptions were recorded in the online registration services to receive government-subsidized fuel coupons as more and more citizens applied for them.
On a similar background, a massive viral campaign with thousands of posts called to expel Afghan refugees and residents from the country, arguing that they steal the jobs of Iranians, live off the country’s budgets, allowances, and shaky economy, and perpetrate crimes against Iranians, with some users likening them to parasites and leeches.
The Iranian currency, the Rial, has steadily declined for decades. Prices are sometimes referred to by multiples of ten, named Touman, to make it easier for buyers to calculate expenses.
Official and military Iranian outlets chose not to address the worsening economic situation, focusing instead on their promised “tough revenge” against Israel following the assassination of high-ranking IRGC officials in Damascus last week, attributed to Israel.
This includes infographics of the different missiles with ranges reaching Israel, threats directed at Israel by officials, and a video showing a barrage of rockets directed against Israel.
However, many users were unimpressed by the government’s distraction attempts. One user denounced the corruption of leaders, which, according to them, led to the situation.
At the same time, another added, “You took away our youth, a curse be upon you,” and a third concluded: “Don’t tell us now that Israel is the one to blame for the Dollar’s [situation].”
