Plunge in Iran's currency sparks strikes and protests: Press review Submitted by MEE correspondent on Thu, 01/01/2026 - 13:19 Meanwhile, the state plans to launch 30 satellites in two years, and rival factions press the president over political influence People walk past stores as the value of the Iranian Rial drops, in Tehran, Iran, 30 December 2025 (Majid Asgaripour/WANA via Reuters) Off Economists warn of further decline in Rial The renewed fall of the national currency, along with strikes by merchants in Tehran Grand Bazar and protests in different cities across the country, has again raised questions about how far the rial could drop. On Saturday, the Iranian currency hit a new low, with one US dollar trading at about 1.4 million rials on the open market. While the rate later improved slightly to around 1.35 million rials to the dollar, economists warned that the downward trend is likely to continue. Despite government promises to stop the currency’s decline, economists say such pledges will remain only words unless inflation is brought under control. Inflation has already risen above 40 per cent in Iran. Mohammad Kohandal, an economic analyst, said controlling inflation is key to stabilising the exchange rate. “As long as inflation remains a chronic problem in the economy, expecting a stable exchange rate is not realistic,” he told Tasnim News Agency. Seyyed Kamal Seyyed Ali, a former deputy foreign exchange official at the central bank, pointed to other pressures on the currency, including higher fuel prices and the risk of reduced oil exports due to sanctions. Without addressing these issues, he said, strengthening the national currency would not be possible. Satellite production accelerates Iranian officials say the country plans to build and launch 30 satellites over the next two years, following the recent launch of three satellites aboard a Russian rocket. Hassan Salarieh, head of the Iranian Space Organisation, announced the plan in an interview with state television. He said Iran has passed the early stage of acquiring space technology and is now focused on making its program more stable. As a result, he said, satellite production has sped up. Iranian officials say the satellites will be used for imaging, weather and atmospheric research, environmental monitoring, mapping, and tracking natural disasters. Western sources, however, have raised concerns about possible links between Iran’s space programme and its missile development. Salarieh said Iran wants to turn its space programme into a full industry and develop what he called a "space economy". He noted that nearly 30 satellites have been built and tested in Iran over the past 20 years, and said the same number will be built and launched in the next two years. Explaining why Iran used Russia to launch three satellites at the same time, Salarieh said the country’s growing satellite output has made it necessary to rely on foreign launch services. Pressure grows on president amid internal rivalries Groups supporting President Masoud Pezeshkian say political pressure on him has increased due to internal rivalries within the ruling system, weakening his government and deepening divisions among those in power. While the country’s political structure is centralised, with key decisions under the authority of Supreme Leader Ali Khamenei and the Islamic Revolutionary Guard Corps (IRGC), rival factions within that system continue to compete over political and economic influence. Ali Soufi, a former labour minister and supporter of the Pezeshkian government, said pressure from hardline members of parliament may bring short-term gains. “But in the end, it will only add to public dissatisfaction,” he said. Soufi added that the way out of the internal crisis was for the country’s leader to give the president more authority. Mehdi Shirzad, a pro-government political activist, also criticised pressure from hardline lawmakers, calling their questions to the president and his ministers partisan demands. “Questioning the president is normal,” Shirzad said. “The problem is how much time this pressure takes from ministers and senior officials, and how it pulls the government into political pressure and populist demands instead of focusing on the country’s main priorities.” Floods and snow leave dead and missing After a dry summer and one of the driest autumns in decades, winter has begun in Iran with floods in the southwest and heavy snowfall in mountainous areas, leaving four people dead and nine missing. The Iranian Red Crescent Society said nine people went missing on Monday after floods swept through the provinces of Khuzestan, Kohgiluyeh and Boyer Ahmad. Videos shared on Farsi social media showed floodwaters reaching the cities of Izeh and Masjed Soleiman in Khuzestan. Heavy snowfall has also disrupted daily life in western and mountainous regions, leading to further casualties. On Monday, official sources said a border guard died from frostbite after being caught in heavy snow while on patrol in the Baneh highlands. Earlier, on Sunday, reports said 14 people were missing during a blizzard in the Sardasht region of Kurdistan. Red Crescent teams later rescued all of them. *Iranian press review is a digest of news reports not independently verified as accurate by Middle East Eye. Media Iranian press review: Plunge in Iran's currency sparks strikes and protests News Post Date Override 0 Update Date Mon, 05/04/2020 - 21:19 Update Date Override 0