As the U.S. and Israel back Iranians' right to protest against their leaders, authorities in Tehran detain students and declare a sudden holiday.

The protests erupted Sunday and gathered pace Monday after the Islamic Republic’s currency, the rial, hit a record low against the dollar. Many in Iran are already struggling with the cost of living, and rising prices have fueled concerns about potential hyperinflation.

U.S. officials voice support for Iranian demonstrators as protests intensify following currency crisis, with reports of tear gas and security crackdowns.

Despite being so far limited, this week’s protests mark the latest chapter in growing discontent in Iran, while a population quietly reclaims public spaces and personal freedoms through uncoordinated acts of defiance.

The intense protests are in response to Iran’s plunging economy that has made life unaffordable for many of its people.

Iran is entering a volatile new phase as a collapsing currency fuels nationwide protests while renewed U.S. and Israeli military threats raise the stakes for an already embattled leadership.

Traders in Iran have staged a second day of protests in Tehran, with many closing their shops and marching through key commercial areas to protest the collapse of the rial. Videos on social media show crowds chanting slogans against the government of President Masoud Pezeshkian,