In the run-up to the Iranian Guardian Council’s announcement of "vetted" presidential candidates, it is useful to look into a crucial matter on the minds of many voters. The future of cash payments to households as part of the subsidy reforms is set to be a major campaign issue.
Late last month, in a little-noticed announcement, the Central Bank of Iran declared that it would only provide a bottom-rate foreign exchange to importers of wheat, barley, corn and soybeans. Most other importers were referred to its trade room, where currency is sold for twice the price. Predictably, the cost of many goods immediately jumped amid protests from parliament.