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Iran Currency Plunges to Record Lows Amid Escalating US Tensions

ILLUSTRATIVE: The Iranian flag waves in front of the IAEA headquarters before the beginning of a board of governors meeting, in Vienna, Austria, March 1, 2021. Photo: Reuters/Lisi Niesner

Iran’s currency fell on Saturday to a new all-time low against the US dollar after the country’s supreme leader rejected talks with the United States and President Donald Trump moved to restore his “maximum pressure” campaign on Tehran.

The rial plunged to 892,500 to the dollar on the unofficial market on Saturday, compared with 869,500 rials on Friday, according to the foreign exchange website alanchand.com. The bazar360.com website said the dollar was sold for 883,100 rials. Asr-e-no website reported the dollar trading at 891,000 rials.

Facing an official inflation rate of about 35%, Iranians seeking safe havens for their savings have been buying dollars, other hard currencies, gold or cryptocurrencies, suggesting further headwinds for the rial.

The dollar has been gaining against the rial since trading around 690,000 rials at the time of Trump’s re-election in November amid concerns that Trump would re-impose his “maximum pressure” policy against Iran with tougher sanctions and empower Israel to strike Iranian nuclear sites.

Trump in 2018 withdrew from a nuclear deal struck by his predecessor Barack Obama in 2015 and re-imposed U.S. economic sanctions on Iran that had been relaxed. The deal had limited Iran’s ability to enrich uranium, a process that can yield fissile material for nuclear weapons.

Iran’s rial has lost more than 90% of its value since the sanctions were reimposed in 2018.

The post Iran Currency Plunges to Record Lows Amid Escalating US Tensions first appeared on Algemeiner.com.

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Netanyahu Criticizes Nation-Wide Strike That ‘Strengthens Hamas’

Israeli Prime Minister Benjamin Netanyahu speaks during a news conference in Jerusalem, Sept. 2, 2024. Photo: Ohad Zwigenberg/Pool via REUTERS

i24 NewsIsraeli Prime Minister Benjamin Netanyahu on Sunday harshly criticized nationwide demonstrations calling for the release of hostages and an end to the Gaza war.

Speaking at a government meeting, Netanyahu argued that such protests only strengthen Hamas and risk repeating the atrocities of October 7.

“Those who call today for an end to Hamas’s war not only harden the terrorist group’s position and delay the release of our hostages, but also guarantee that the horrors of October 7 will be repeated and that we will have to fight an endless war,” Netanyahu said.

The prime minister defended Israel’s ongoing military operations, citing strikes carried out in recent days: “In the last 24 hours, the navy attacked power stations in Yemen, IDF soldiers struck Zeitoun and eliminated dozens of terrorists in Gaza, and the air force targeted Hezbollah commanders and launch sites in Lebanon.”

He added that Israel’s response in Lebanon was consistent with the ceasefire agreement: “According to this agreement, we will meet with fire any violation and any attempt to arm Hezbollah.”

Netanyahu reaffirmed Israel’s conditions for ending the conflict, stressing the need for continued security control in Gaza and the group’s long-term demilitarization. He rejected Hamas’s demand for a full Israeli withdrawal: “They want us to leave Gaza entirely — from the north, the south, the Philadelphi corridor, and the security perimeter. That would only allow them to reorganize, rearm, and attack us again.”

The war has now entered its 681st day, with 49 hostages still held by Hamas.

Meanwhile, hundreds of thousands of Israelis joined a general strike organized by the Hostage Families Forum, calling for the return of all captives in a single deal and for an end to the war. Demonstrations spread across the country, at major intersections, government ministers’ homes, and familiar protest hubs such as Kaplan Junction and the Ayalon highways.

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Family Releases Footage of Matan Zangauker in Captivity

A screenshot of a video released by the family of hostage Matan Zangauker.

i24 NewsThe family of Matan Zangauker, the Israeli hostage held by Hamas since October 7, shared new footage of him from captivity on Sunday evening.

The video, obtained by the IDF, was recorded several months ago.

In the recording, 32-year-old Matan looks directly into the camera, addressing his loved ones: “Tato, Shani, Ilana, I miss you. God willing, we’ll see each other soon. All my friends and acquaintances, go out and make noise like only you know how.”

Matan was kidnapped from his home in Kibbutz Nir Oz, along with his partner Ilana Gritsievsky, who was released in a hostage deal last year. Since then, Matan has remained in Hamas custody while his family continues to fight for his return.

On the national protest day calling for the release of hostages, Ilana staged a poignant display at Hostages Square. Dressed in a wedding gown beneath a chuppah, she symbolically “married” Matan in his absence. “Matan, my curly-haired one, if you hadn’t been abducted, we could already be married. In a single day, our world was destroyed, and you’re not here to hold me. I’m fighting for you until you come back,” she said.

Matan’s mother, Einav, has emerged as a leading voice in the campaign for the hostages’ release and has sharply criticized Israel’s political leadership, accusing them of undermining potential hostage deals.

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Hamas Rejects Israel’s Gaza Relocation Plan

Palestinians, displaced by the Israeli offensive, shelter in a tent camp as the Israeli military prepares to relocate residents to southern Gaza, in Gaza City August 17, 2025. Photo: REUTERS/Dawoud Abu Alkas

Palestinian terrorist group Hamas said on Sunday that Israel’s plan to relocate residents from Gaza City constitutes a “new wave of genocide and displacement” for hundreds of thousands of residents in the area.

The group said the planned deployment of tents and other shelter equipment by Israel into southern Gaza was a “blatant deception.”

The Israeli military has said it is preparing to provide tents and other equipment starting from Sunday ahead of its plan to relocate residents from combat zones to the south of the enclave “to ensure their safety.”

Hamas said in a statement that the deployment of tents under the guise of humanitarian purposes is a blatant deception intended to “cover up a brutal crime that the occupation forces prepare to execute.”

Israel said earlier this month that it intended to launch a new offensive to seize control of northern Gaza City, the enclave’s largest urban center. The plan has raised international alarm over the fate of the demolished strip, which is home to about 2.2 million people.

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