World Business Report Iran traders protest as rial plunges
Dec 30, 2025
Berang Tajdin, BBC Persian economics editor, discusses the dire state of Iran's economy as traders protest the rial's sharp collapse, revealing soaring inflation and widespread hardship. Theo Leggett, BBC correspondent, highlights the fallout from the Jaguar Land Rover cyber-attack, detailing its severe impact on the automotive supply chain. Seamus Daniels, defense budget analyst, examines the surge in global military spending, driven by geopolitical tensions, and explores future warfare trends, including the rise of drones and AI.
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Currency Crash Triggers Trader Uprising
- Iran's rial has fallen sharply, sparking mass trader protests across Tehran's bazaars.
- The currency slide and multi-rate FX regime have intensified corruption and market uncertainty.
Multi-Rate FX System Fuels Corruption
- The central bank head was removed amid anger over multiple official exchange rates.
- Berang Tajdin says the multi-rate system created rent-seeking and corruption benefiting insiders.
Inflation, Recession And Joblessness
- Iran faces soaring inflation and recession with joblessness and collapsing domestic demand.
- Official inflation hit 42.2% and food inflation exceeded 72%, deepening social strain.