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Bond Auctions Continue

Bond Auctions Continue  Bond Auctions Continue

The government sold 30.8 trillion rials ($120 million) in Islamic bonds via the interbank and stock market during the weekly auction on Tuesday.  
According to the central bank’s public relations office, bidders were four banks and three investment funds who put in bids worth 29.3 trillion rials ($117m). The Economy Ministry accepted bids worth 29.2 trillion rials. 
Bonds were offered at varying yields, the highest being 21%. Only five trillion rials were sold at this rate. About 9.6 trillion rials in bonds were sold at 19% and 14.5 trillion rials at 20%. 
The share of retail and institutional buyers in the equity market as meager this time around as they bought only 1.6 trillion rials of bonds outside of CBI auction. They had bought 8.5 trillion rials last week. 

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