Tehran protests fizzle out as dollar drops 10,000 tomans after central bank shake-up

Reports from central Tehran indicate that protests triggered by a sharp rise in foreign exchange rates have fizzled out, with normal conditions returning to key commercial districts following changes in the country’s economic leadership.

Field observations by a Tasnim News Agency correspondent in Enghelab and Jomhuri Streets and nearby shopping centers show that businesses and malls are operating normally, with no visible signs of the protests reported earlier on Monday.

Contrary to claims circulated by anonymous online channels, the vast majority of shops in the area have remained open and active.

The easing of tensions coincided with a swift and positive reaction in financial markets following the resignation of Mohammad Reza Farzin as head of the Central Bank of Iran and his replacement by former economy minister Nasser Hemmati.

Within hours of the leadership change, the U.S. dollar fell by around 10,000 tomans, while gold coin prices dropped by nearly 20 million tomans.

Market sources say the downward trend is continuing, with selling pressure increasing in both currency and gold markets.

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