Just over a week ago we we were the first to shed light on the reality of hyperinflation on the ground in Iran - and subtley suggested the whole thing could be watched in real-time. Soon after, a mysterious cabal of 16 currencyarrested and the Rial jumped dramatically higher (according to official sources) - as if by magic there was no problem at all.
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This all sounded a little too good to be true (just like unemployment rates in slightly more controlled economies). Sure enough, by the power of social media, we now know it was too good to be true.
As open-market foreign exchange rates - not just Rial-to-Dollar - have disappeared from the major currency exchange sites, as trade has reportedly slowed to near suspension after the Central Bank 'imposed' a rate of 28,500 Rials to the USD this weekend. Read more >>
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