$43m Bonds Sold

The government's weekly bond sale was held on Tuesday as banks and credit institutions again stayed away.
Debt worth 10.623 trillion rials ($29.1 million) was sold in the 26th auction held by the Central Bank of Iran. Auctions are held by CBI on behalf of the Economy Ministry to raise funds for the government’s fiscal holes.
Buyers of the debt normally are banks, credit institutions, investment funds and institutional investors. In the absence of banks and credit institutions, equity market investors bought 9.59 trillion rials ($26.2 million) worth of short-term bonds and 1.028 trillion rials ($2.8 million) bonds with longer maturity.