Protests erupted in Iran after the country’s currency plummeted to a record low against the U.S. dollar, and the head of the Central Bank resigned yesterday. According to media reports, these are considered the largest protests in the past three years.

State TV reported the resignation of Central Bank head Mohammad Reza Farzin, while traders and shopkeepers rallied in Tehran as well as in the Shush neighbourhood near Tehran’s main Grand Bazaar. The official IRNA news agency confirmed the protests. Similar rallies were reported in other major cities, including Isfahan in central Iran, Shiraz in the south, and Mashhad in the northeast. In some areas of Tehran, police fired tear gas to disperse protesters.

Earlier on Sunday, protests were limited to two major mobile markets in downtown Tehran, where demonstrators chanted anti-government slogans.