Impressive data reconstruction given Iran's opacity. The subsidized import rate elimination creating an instant 75-80% price spike really explains the protest timing better than most coverage I've seen. Also intresting how the 'realist' unified rate at 1.31M still got blown up by the black market within weeks, basically proving you cant mandate currency stability without reserves.
Iran to read this!
Impressive data reconstruction given Iran's opacity. The subsidized import rate elimination creating an instant 75-80% price spike really explains the protest timing better than most coverage I've seen. Also intresting how the 'realist' unified rate at 1.31M still got blown up by the black market within weeks, basically proving you cant mandate currency stability without reserves.
Thank you! Completely agree and without sanctions relief they won't be able to build those reserves up again.