$66m Bonds Sold

The government sold 21.3 trillion rials ($66 million) bonds in the latest auction held by the Central Bank of Iran on Tuesday. 
The auctions are held on a weekly basis to raise funds for the government’s budget deficits. Banks, non-bank credit institutions, investment funds and institutional investors in share market are usually the main buyers of the bonds. The CBI holds auctions on behalf of the Economy Ministry. 
Despite bigger contribution of banks and credit institutions in the fourth auction, the total bond sale was down 32% compared with the session before, according to the CBI website.