Outlook for Gov’t Bonds Improves

Investors showed some renewed interest in government bonds at the weekly auction after having shunned the debt market for months.
In the sixth round of auctions in the current fiscal year that started in March, the government sold debt worth 15.8 trillion rials ($63 million), the majority of which was bought by banks.
Bidders were three banks for 13.9 trillion rials ($55.6m), according to a press release seen on the Central Bank of Iran website. The regulator holds the weekly auctions on behalf of the government.
Institutional traders bought 1.9 trillion rials. Their contribution to bond purchase was zero in the last four auctions.