Weekly Bond Sale at $104 Million

The government sold 32.5 trillion rials ($104 million) bonds  at the seventh weekly auction held by Central Bank of Iran last week.
Bond auctions are held to help plug the government’s budget deficits. The main buyers are banks, non-bank credit institutions, investment funds and institutional investors in the stock market. The CBI holds the auctions on behalf of the Economy Ministry.
In the latest auction the main buyers were retail and institutional investors in the bourse while banks had a comparably peripheral role.