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Iran’s deepening currency crisis spilled onto the streets this week after the rial slid to about 1.42 million to the US dollar, prompting rallies in several cities, reports Cape {town} Etc.

Videos shared online show hundreds of people gathering in public spaces, chanting and holding placards as economic pressure intensifies across the country, according to footage published by Sky News.

The sharp fall in the rial has pushed up the price of food, fuel and housing, placing added strain on households already facing high unemployment and limited income growth.

Protesters in the videos appear visibly frustrated, with crowds calling for action as living costs continue to rise.

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One demonstrator, quoted by Sky News, said people were ‘tired of watching prices change every week while wages stay the same’. Another voice in the crowd added that the currency slide had made daily life ‘unpredictable and stressful’.

Economists say the weakening rial reflects a mix of domestic challenges and external pressure. Analysts told Reuters that limited access to foreign currency, low investor confidence and ongoing sanctions have reduced the government’s ability to stabilise the market.

Iran’s authorities have not yet issued a detailed public response to the rallies.

In past statements, officials have urged calm and warned against unauthorised gatherings, while also pledging to manage inflation and support vulnerable households.

For many Iranians, however, the scenes captured on social media underline a growing sense of urgency.

As the rial continues to slide, the economic story is no longer confined to exchange rates. It is now playing out, visibly and emotionally, on the streets.

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Picture: Vitoria Holdings / Unsplash

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