Political analytics and forecasts Partly open
The Soft Currency Trap: Why Money Is Lost Not Because of Restrictions, but Because of the Exchange Rate
The money sitting in accounts in Istanbul, Astana, or Bishkek is indeed melting away. But not because of a “coordinated package of emergency measures”—which never existed—but because of inflation nearing 30% and the mandatory conversion of a portion of revenue. Let’s break down what the regulators of the four transit jurisdictions actually require, why Kazakhstan went in the opposite direction, and how to maintain turnover to avoid paying the exchange rate tax.
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- the full set of indicators and market factors;
- an interpretation of the current picture;
- conclusions and the signals that follow.
