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Iran's Central Bank Chief Resigns Amid Currency Crisis

12/29/2025

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Summary

Story summary

Mohammad Reza Farzin resigned as head of Iran's Central Bank on December 29, 2025.
The rial hit a record low against the U.S. dollar, sparking protests in Tehran and other cities.
Inflation reached 42.2% year over year.
Food prices rose 72%.
The government has not announced a successor for Farzin or a plan to stabilize the currency before the Iranian New Year on March 20.

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Story summary

Mohammad Reza Farzin resigned as head of Iran's Central Bank on December 29, 2025.
The rial hit a record low against the U.S. dollar, sparking protests in Tehran and other cities.
Inflation reached 42.2% year over year.
Food prices rose 72%.
The government has not announced a successor for Farzin or a plan to stabilize the currency before the Iranian New Year on March 20.