Gov’t Sells $94m of Bonds 

The government’s bond sale jumped 30% to 28.7 trillion rials ($94 million) in the sixth weekly auction Tuesday held by the Central Bank of Iran.
Bond auctions are held to raise funds for the government’s deficit spending. Banks, non-bank credit institutions, investment funds and institutional investors in the stock market are the main buyers. The CBI holds the sale on behalf of the Economy Ministry.
Three banks took part in the latest auction together putting in bids worth 12.7 trillion rials ($41.6m) for the nearest maturity date and lowest yields.