Business And Markets

Bank Buys $23m in Bonds

Bank Buys $23m in Bonds
Bank Buys $23m in Bonds

The government sold bonds worth 5.8 trillion rials ($23 million) at the weekly auction held by the Central Bank of Iran on Tuesday.  
Buyers were mainly from interbank market while investors in the stock market playing a peripheral role, according to a CBI press release.
An unnamed bank was the sole buyer that put in a bid worth 5.6 trillion rials. The bonds mature in October 2022 at 21%. There were no buyers for bonds with longer maturities.
In the auctions investors must put in bids for a minimum of 500 bonds each at par value of 1,000 rials via the interbank platform managed by the CBI as well as the trade platform of the Tehran Securities Exchange Technology Management Company.


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