Massive protests rock multiple cities as Iran battles financial crisis

Tehran: Widespread protests rocked several cities in Iran when massive crowds took to the streets after the country’s currency plunged to a historic low against the US dollar.
Apart from the capital Tehran, Monday's unrest also witnessed major rallies in several other cities, including Isfahan, Shiraz and Mashhad.
The protests in Tehran turned violent, prompting the police to fire tear gas in order to disperse the crowd. 

What effect did the protests have? 

Iran's Central Bank chief Mohammad Reza Farzin announced his resignation amid the financial crisis and raging protests. 
Monday's unrest was the biggest mass protests to hit Iran since 2022, when the death of 22-year-old Mahsa Jina Amini in police custody triggered demonstrations throughout the nation.
Markets remained closed across the country on Monday.

How did Iran's president react? 

Iran's President Masoud Pezeshkian gave out a statement in support of the protesters, urging the government to listen to “legitimate demands”.
“I have asked the interior minister to listen to the legitimate demands of the protesters by engaging in dialogue with their representatives so that the government can do everything in its power to resolve the problems and act responsibly,” Pezeshkian was quoted as saying by the media.

What is the condition of Iran's economy?  

Iran's currency, the rial, had plunged to 1.42 million to the US  dollar. 
The rapid fall in the rial's value has pushed up  inflation while a change in the price of gasoline may compound the problem.