Sahmino Academy
Money, Inflation & Purchasing Power
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Money provides a unit for quoting prices and settling payments at a stated date. Purchasing power compares that amount with the cost of a basket of goods and services; when the basket becomes dearer, unchanged money buys less.
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18 lessons
- 1
Money, Inflation & Purchasing Power
Money provides a unit for quoting prices and settling payments at a stated date. Purchasing power compares that amount with the cost of a basket of goods and services; when the basket becomes dearer, unchanged money buys less.
2 min read - 2
What Is an Asset?
An asset is something with economic value; a liability is an obligation. Describe each household asset by its cash flows, resale conditions, custody and costs.
2 min read - 3
Bank Deposits & Real Returns
A quoted annual rate, the effective compounded yield and the inflation-adjusted return answer different questions. Compounding requires that each payment stays invested at the assumed rate.
2 min read - 4
How Markets Discover Prices
A market brings potential buyers and sellers together. The bid is a buying quotation, the ask a selling quotation, and a completed trade establishes the last price.
2 min read - 5
Tehran Stock Exchange 101
A share represents an ownership claim in a company whose assets, liabilities and profit are reported for stated periods. The ticker identifies the listed instrument, while the registered company name identifies the issuer whose filings you need to inspect.
2 min read - 6
Opening a Brokerage Account
Entering an exchange requires an identified customer, an account with an authorised intermediary and an understood trading agreement. Keep identity verification separate from funding and order placement.
2 min read - 7
Gold in Iran: Karats & Coins
Gold purity measures the fraction of pure metal, while weight measures how much alloy you hold. Eighteen-karat gold contains 18/24 gold by weight, equivalent to 750 parts per thousand; multiplying the alloy weight by that fraction gives its pure-gold content.
2 min read - 8
The Coin Premium (Hobab)
A coin premium compares its market price with an explicitly calculated metal value. State the product weight, fineness, international gold quote and exchange-rate basis, with matching timestamps.
2 min read - 9
Iran's Multi-Rate FX Market
One currency can have several quoted rates when transactions differ in access, purpose, settlement or official treatment. Cash, transfer and administratively allocated quotations are not interchangeable.
2 min read - 10
Crypto Basics: Bitcoin & Tether
A blockchain records transfers under its rules for authorisation and transaction ordering. A token’s market price, custody and redemption promise are separate financial questions; recording it on a network does not establish what it can be sold or redeemed for.
2 min read - 11
Investment Funds & ETFs
A fund pools investors’ money under a stated mandate and issues units representing their interests in that pool. To understand its return and exit process, inspect the holdings, fees, valuation date and the fund’s own sale or redemption terms.
2 min read - 12
Risk & Return
Risk means uncertainty about outcomes and the ability to meet a goal. Price volatility is one part; inability to sell, issuer failure, custody loss and inflation also matter.
1 min read - 13
Diversification
Diversification spreads exposure across genuinely different sources of loss. Counting tickers is not enough: businesses can share a customer, commodity, currency or funding risk.
1 min read - 14
Liquidity
Liquidity asks whether a position can be converted to usable money, in the required amount and time, at an acceptable cost. A quoted last price and a high asset value do not establish that ability.
1 min read - 15
Housing as an Asset
A home provides housing services as well as a resale asset. Compare location, area, age and condition before comparing price per square metre.
2 min read - 43
A Map of Global Markets
A stock exchange is a venue, an index is a measured basket, and a currency pair is a quotation between monies. They are different objects even when a dashboard places them together.
2 min read - 44
The Global Gold Ounce & Iranian Gold
A global gold quotation commonly uses US dollars per troy ounce of fine gold. A troy ounce is 31.1034768 grams and differs from the ordinary ounce used for other goods.
2 min read - 45
Oil Benchmarks: Brent, WTI & the OPEC Basket
Brent and West Texas Intermediate are oil benchmark families with specified grades, locations and delivery or contract arrangements. The OPEC Reference Basket represents a separate set of crude grades.
2 min read
Intermediate
22 lessons
- 16
TEDPIX vs Equal-Weight
An index measures a defined basket using a published weighting and return method. A size-weighted index gives larger constituents more influence; an equal-weighted index periodically gives members equal target weights.
2 min read - 17
EPS & P/E
The income statement reports a period; the balance sheet reports a date; the cash-flow statement explains cash movements. Earnings per share needs a profit definition and share-count basis.
2 min read - 18
Intro to Fundamental Analysis
Fundamental analysis connects a business model to revenue, costs, cash generation and financing. Start with who pays the company, the volume sold and the realised price.
2 min read - 19
Intro to Technical Analysis
Technical analysis summarises price and volume history. A moving average smooths observations; it does not discover a guaranteed future price.
2 min read - 20
IPOs on TSE
An initial public offering brings shares to public investors. The offering notice specifies the instrument, price process, eligibility, dates and allocation.
2 min read - 21
Fixed Income & T-Bills
A bond specifies cash flows, payment dates and an issuer obligation. Some instruments pay coupons; a zero-coupon bill pays its face value at maturity.
2 min read - 22
Drivers of the Dollar
An exchange rate links two currencies, with a specific settlement method and market segment. Inflation, expected policy, trade flows and access to payments can influence it, but no single variable explains every move.
2 min read - 23
Pricing Iranian Gold
Start with the global quotation in US dollars per troy ounce of fine gold. Divide by 31.1034768 to obtain dollars per gram, multiply by the selected rial-per-dollar rate, then by fineness for the product.
2 min read - 24
Coin & FX Auctions
An auction allocates a specified supply according to announced bid and eligibility rules. An auction result is not necessarily the retail market price: product, settlement, delivery date and participant access can differ.
2 min read - 25
Gold Funds
A gold fund gives exposure through its actual portfolio, which may contain commodity certificates, derivatives, cash or other permitted holdings. Read the prospectus and current portfolio rather than assuming each unit is a redeemable gold bar.
2 min read - 26
Measuring Inflation
A consumer price index combines prices with expenditure weights and a stated base. Monthly inflation compares with the preceding month; year-on-year compares with the same month a year earlier; average annual inflation compares two twelve-month averages.
2 min read - 27
Money Supply
Monetary aggregates measure different kinds of money. The monetary base includes central-bank money such as currency and bank reserves; broader measures include deposits under their national definitions.
2 min read - 28
Cars as Quasi-Assets
A car provides transport and has a resale value. Even when its nominal price rises, age, mileage, maintenance and transaction costs affect its economic return.
2 min read - 29
Crypto Custody & Risks
Crypto custody determines who controls the credentials needed to transfer an asset. A hosted account creates exposure to the custodian; self-custody makes key and recovery security your responsibility.
2 min read - 30
Fees & Taxes
Costs include entry, holding and exit charges, spreads, custody and any applicable tax. Some charges use traded value, others a fixed amount or asset balance.
2 min read - 46
The US Dollar Index (DXY)
The ICE US Dollar Index measures the dollar against a fixed six-currency basket using geometric weights. It is neither a complete trade-weighted dollar measure nor a quote against the Iranian rial.
2 min read - 47
How a Fed Decision Reaches the Toman
A Federal Reserve decision affects market expectations about future policy, rather than only the announced rate today. An expected decision can produce little price movement; a surprise in the statement or projected path can matter more.
2 min read - 48
Iraq’s FX Settlement and Iran’s Market
Iraq’s FX system must be described with current institutional dates. The Central Bank of Iraq announced on 1 January 2025 that external transfers had fully moved to correspondent-bank arrangements after the earlier electronic platform.
2 min read - 49
The UAE Dirham: Trade Gateway & Hawala
The UAE dirham operates within a US-dollar peg framework. That anchor does not remove charges, buying-selling spreads or access differences for a particular transfer.
2 min read - 50
The Turkish Lira: a Neighbor's Economy
The Turkish lira is a neighbouring currency, not a substitute for the dollar or a direct measure of Iranian prices. Inflation, expected policy, external financing and domestic demand influence its value through changing channels.
2 min read - 51
Global & Regional Equity Indices
Equity indices can cover a country, exchange, sector or selected large companies. Inclusion and weighting rules define what each measures.
2 min read - 52
China's Yuan & Iran's Oil
China’s demand, industrial activity and energy imports can affect global commodities. A dated country analysis explains the observed period, not a permanent share of Iran’s exports or a guarantee that every cargo settles in yuan.
2 min read
Advanced
17 lessons
- 31
Equity Valuation
Valuation estimates a conditional value, not an executable price. An earnings multiple needs a sustainable earnings measure; price-to-sales also needs a margin story; asset-based NAV needs current asset values and liabilities.
2 min read - 32
Export vs Domestic Stocks
Currency exposure depends on revenue, input costs, debts and the rates actually used in settlement. An exporter is not automatically helped by every local-currency depreciation: imported inputs, lower world prices or collection restrictions can offset higher converted revenue.
2 min read - 33
Futures & Options
A futures contract creates obligations for a specified quantity, expiry and settlement method. Margin supports that obligation without paying the contract’s full value; adverse price changes can require additional funds to maintain an open position.
2 min read - 34
IME Deep-Dive
A commodity venue distinguishes physical delivery from certificates and derivatives. A physical offer needs product grade, unit, lot size, location, delivery and payment terms.
2 min read - 35
Central Bank Policy
Monetary policy changes the conditions under which money and credit circulate. Policy rates, liquidity operations and balance-sheet rules can affect funding costs, demand and expectations through different channels.
2 min read - 36
Budget & Markets
A budget combines expected government revenues, spending and financing for a stated period. A deficit is the gap between spending and revenues over that period, while debt measures the outstanding obligations at a particular date.
2 min read - 37
Sanctions Mechanics
Sanctions can affect counterparties, products, payment routes and access to services. Their economic channels include delays, added checks, financing costs and uncertainty.
2 min read - 38
Housing Cycles
A housing cycle combines prices, transaction volume, construction, rents and financing conditions. A rise in asking prices can coexist with fewer completed sales.
2 min read - 39
Steel & Materials Chain
The steel chain connects raw materials, reduction or scrap processing, steelmaking, casting and finished products. Different production routes consume different inputs and energy.
2 min read - 40
Intermarket Analysis
Intermarket analysis follows economic channels between assets. Local gold depends on global metal price, the selected FX rate and local premiums; an exporter links commodity prices with costs and settlement; housing responds to household income, finance and supply.
2 min read - 41
Portfolio Risk Management
Portfolio risk begins with goals, liabilities, time horizon and the ability to meet near-term cash needs. Stress scenarios vary prices, liquidity, currency and income together where economically related.
2 min read - 42
Global Macro & Iran
Global activity reaches Iran through commodity demand, export receipts, import costs, financing conditions and expectations. A Federal Reserve surprise can affect world rates and exchange rates, but domestic settlement and policy can strengthen, weaken or reverse the local transmission.
2 min read - 53
OPEC+: How Decisions Are Made
OPEC and participating non-OPEC producers announce production arrangements through dated meetings. A target, voluntary adjustment, actual output and export volume are different quantities.
2 min read - 54
When the Ounce Falls but the Coin Rises
A coin’s price can be decomposed into fine-gold value and a local premium. Fine-gold value changes with the global ounce quotation and the selected local FX rate; premium changes with local supply, demand and product conditions.
2 min read - 55
Secondary Sanctions, OFAC & FATF
OFAC sanctions and FATF standards have different legal and institutional roles. Sanctions programmes can restrict specified dealings and impose conditions; FATF recommendations concern anti-money-laundering and counter-terrorist-financing systems, with risk assessments influencing financial institutions’ checks.
2 min read - 56
Money Corridors: Hawala, Dirham & Tether
Cross-border settlement can involve banks, transfer intermediaries or digital-asset arrangements. A quotation and a ledger transfer do not by themselves establish final, accessible funds.
2 min read - 57
The Neighborhood's Markets
Neighbouring markets connect to Iran through trade, energy, freight, tourism, finance and settlement. The Persian Gulf, Iraq, the Caucasus and Central Asia have distinct currencies, institutions and product mixes; geographic proximity alone does not create one market.
2 min read