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Iran’s Currency Continues to Fall, Rouhani’s Administration Says Criticism 'Acceptable'

via TASNIM
via TASNIM
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Iran’s Currency Continues to Fall, Rouhani’s Administration Says Criticism 'Acceptable'

via TASNIM
via TASNIM

The Iranian currency continued to fall as its rial hit a record low against the US dollar for the second time in two months over concerns about Iran's economy.

The Iranian government, according to several officials in President Hassan Rouhani’s administration, rushed to defend its performance against the harsh criticisms by the state’s newspapers although government Spokesman Mohammad Bagher Nobakht said the criticisms were "acceptable".

The rial, which had plunged through 50,000 rials to the dollar in February, depreciated to 60,000 on the unregulated market.

The rial has reached a series of records-low in recent weeks, and stood at 58,650 to the dollar at the close of business on Monday.

Several foreign-exchange dealers announced they had stopped selling both dollars and euros by late afternoon trade, according to ISNA.

After an emergency session of the government on Monday night, Vice-President Eshagh Jahangiri said the rate would be capped at 42,000 rials to the dollar and foreign exchange offices would be brought under the control of the central bank.

"Unfortunately in recent days, incidents have happened in the rate of foreign currency which have caused concern for the people," he said in comments on the state broadcaster.

He blamed "non-economic, unjustified and unpredictable factors" for driving the rial's collapse, given that its exports were performing strongly.

"There should not be such incidents in an economy that always has a surplus of foreign currency. Some say interference by foreign hands is disrupting the economic climate and some say domestic machinations are spurring these things in order to destabilize the climate in the country," added Jahangiri.

For his part, Nobakht said, “We will certainly use all of the state’s strengths and capabilities in order to, God-willing, steady the market.”

“We accept that this situation is not a good one and it’s against what we want,” he added in a statement.

Rouhani met with officials to discuss ways to intervene and stabilize the currency, Nobakht said. The measures will be implemented in coming days, he added without elaborating.

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Türkiye Presses PKK to Disarm ‘Immediately’

An Iraqi Kurdish woman waves a flag bearing the portrait of the founder of the Kurdistan Workers’ Party (PKK) Abdullah Ocalan as people gather at Freedom Park to listen to an audio message by the jailed leader in Sulaimaniyah, in Iraq's autonomous Kurdistan region on February 27, 2025. (AFP)
An Iraqi Kurdish woman waves a flag bearing the portrait of the founder of the Kurdistan Workers’ Party (PKK) Abdullah Ocalan as people gather at Freedom Park to listen to an audio message by the jailed leader in Sulaimaniyah, in Iraq's autonomous Kurdistan region on February 27, 2025. (AFP)
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Türkiye Presses PKK to Disarm ‘Immediately’

An Iraqi Kurdish woman waves a flag bearing the portrait of the founder of the Kurdistan Workers’ Party (PKK) Abdullah Ocalan as people gather at Freedom Park to listen to an audio message by the jailed leader in Sulaimaniyah, in Iraq's autonomous Kurdistan region on February 27, 2025. (AFP)
An Iraqi Kurdish woman waves a flag bearing the portrait of the founder of the Kurdistan Workers’ Party (PKK) Abdullah Ocalan as people gather at Freedom Park to listen to an audio message by the jailed leader in Sulaimaniyah, in Iraq's autonomous Kurdistan region on February 27, 2025. (AFP)

Türkiye on Thursday insisted the PKK and all groups allied with it must disarm and disband "immediately", a week after a historic call by the Kurdish militant group's jailed founder.

"The PKK and all groups affiliated with it must end all terrorist activities, dissolve and immediately and unconditionally lay down their weapons," a Turkish defense ministry source said.

The remarks made clear the demand referred to all manifestations of Abdullah Ocalan's Kurdistan Workers' Party (PKK), which has led a four-decade insurgency against the Turkish state, costing tens of thousands of lives.

Although the insurgency targeted Türkiye, the PKK's leadership is based in the mountains of northern Iraq and its fighters are also part of the Kurdish-led Syrian Democratic Forces (SDF), a key force in northeastern Syria.

Last week, Ocalan made a historic call urging the PKK to dissolve and his fighters to disarm, with the group on Saturday accepting his call and declaring a ceasefire.

The same day, President Recep Tayyip Erdogan warned that if the promises were not kept, Turkish forces would continue their anti-PKK operations.

"If the promises given are not kept and an attempt is made to delay... or deceive... we will continue our ongoing operations... until we eliminate the last terrorist," he said.

- Resonance in Syria, Iraq -

Since 2016, Türkiye has carried out three major military operations in northern Syria targeting PKK militants, which it sees as a strategic threat along its southern border.

Ankara has made clear it wants to see all PKK fighters disarmed wherever they are -- notably those in the US-backed SDF, which it sees as part of the PKK.

The SDF -- the bulk of which is made up of the Kurdish YPG -- spearheaded the fight that ousted ISIS extremists from Syria in 2019, and is seen by much of the West as crucial to preventing an extremist resurgence.

Last week, SDF leader Mazloum Abdi welcomed Ocalan's call for the PKK to lay down its weapons but said it "does not concern our forces" in northeastern Syria.

But Türkiye disagrees.

Since the toppling of Syria's Bashar al-Assad in December, Ankara has threatened military action unless YPG militants are expelled, deeming them to be a regional security problem.

"Our fundamental approach is that all terrorist organizations should disarm and be dissolved in Iraq and Syria, whether they are called the PKK, the YPG or the SDF," Omer Celik, spokesman for Erdogan's ruling AKP, said on Monday.

Ocalan's call also affects Iraq, with the PKK leadership holed up in the mountainous north where Turkish forces have staged multiple air strikes in recent years.

Turkish forces have also established numerous bases there, souring Ankara's relationship with Baghdad.

"We don't want either the PKK or the Turkish army on our land... Iraq wants everyone to withdraw," Iraq's national security adviser Qassem al-Araji told AFP.

"Turkish forces are (in Iraq) because of the PKK's presence," he said, while pointing out that Türkiye had "said more than once that it has no territorial ambitions in Iraq".