Iran's currency, the Rial, has depreciated drastically, leading the Parliament to remove the country's Finance Minister. On Sunday, a resolution was passed against Finance Minister Abdolnasser Hemmati, blaming him for the economic crisis. The exchange rate has plummeted to 930,000 Rials per US dollar, whereas in 2015, it was 32,000 Rials per dollar. When President Masoud Pezeshkian took office in July last year, the Rial was valued at 584,000 per dollar. However, in the past six months, the financial system has spiraled out of control, causing the currency's severe devaluation. Now, nearly 1,000,000 Rials are required to obtain just one US dollar, prompting Parliament to take action against the minister. The situation worsened after the US withdrew from the 2015 nuclear deal and imposed economic sanctions on Iran.

Despite President Pezeshkian urging national unity and cooperation in the face of economic sanctions, the Parliament decided to remove the Finance Minister. According to Steve Hanke, an economics professor at Johns Hopkins University, Iran's Rial is currently the third least valuable currency in the world. When Pezeshkian took charge in July last year, the exchange rate was 584,000 Rials per US dollar. However, the country's lack of control over financial affairs in the past six months has worsened the situation, leading to severe economic instability.

The US withdrawal from the nuclear agreement in 2015 and subsequent Western sanctions have put Iran in a deep economic crisis. Iran’s Rial remains among the world's least valuable currencies. Meanwhile, President Masoud Pezeshkian defended Finance Minister Abdolnasser Hemmati, arguing that blaming a single individual for the crisis is unfair and that economic issues cannot be attributed to just one person.