I just cannot believe the idiots who think dollar will lose value against Rial as a result of this deal!
Iran's banking system and money distribution channels are totally dependent on US dollar hovering around 3000-toman or more.
I'm almost certain dollar will shoot up to 4000 or a bit more within a year. As more blocked assets become available to the regime, they will devalue Rial as much as the market allows to benefit from the conversion. He who holds the most foreign currency determines the rate of conversion. At this moment, the government holds the most dollar and euro, and is desperate to generate local cash. Guess how they will achieve this.