Thats exactly the same pattern we've undergone since 6 montha ago in Iran. The government implemented currency control but they gave the low price USDs to specific people to import for example smart phones. But those people sold the smart phones with the currency rate of the black market, 3 times higher they used sell. Inflation is going crazy. But last night they finally said amd admitted that when they implement currency control, they actually highlighting corruption and they are going to stop it.
Not sure if the result will get any better