Iran Crisis Update, December 14
December 14, 2022 - ISW Press
The Iranian economy appears to be entering a period of potentially significant disruption. Protester coordinators and other social media users have called on Iranians to urgently withdraw their bank account savings and buy gold in recent days. Social media accounts reported many Iranians doing so on December 14, although CTP cannot verify this reported bank run nor is it prepared to assess the scale. These reports coincide with the continued devaluation of the Iranian rial, which hit a new all-time low of around 385,000 to the US dollar on December 14. A public relations official in the Raisi administration acknowledged that the protests have increased economic uncertainty and thus fueled this fiscal crisis.