Iran launches 10mn rial banknote as war triggers dash for cash
Iranians queue to get hold of highest-ever denomination bills as US-Israeli strikes fuel demand for hard currency
Iranians queue to get hold of highest-ever denomination bills as US-Israeli strikes fuel demand for hard currency

Bank sees risks of surge in government borrowing costs and of hit to ‘rich’ asset prices

Anger over collapse of currency provokes largest demonstrations in Islamic republic for years

Tehran has a strong incentive to keep the conflict going

Consumers feel effects of conflict while many expect Strait of Hormuz stand-off to exacerbate stagnation

Destructive US and Israeli war and Islamic republic’s resilience have alarmed even those who supported foreign intervention

Anger over collapse in living standards prompts protests by shopkeepers in Tehran