Plunge in Iran's currency sparks strikes and protests: Press review

The Iranian rial has hit a new low against the US dollar, sparking strikes by merchants and protests in various cities. Economists warn that the currency's decline will likely continue unless the government controls inflation, which has surpassed 40 percent. Pressures on the currency are also attributed to the risk of reduced oil exports due to sanctions. Separately, Iran announced plans to build and launch 30 satellites over the next two years, a program that has raised concerns from Western sources.