Weekly Bond Sale at $83.7 Million

The weekly government bond auction held by the Central Bank of Iran barely generated 32.24 trillion rials ($83.7 million) as major buyers stayed away for the fifth week in a row.
Auctions are held on behalf of the Economy Ministry to raise funds for the government’s deficit spending. Buyers of the debt normally are banks, credit institutions, investment funds and institutional investors. 
In the extended absence of equity market investors, banks were the main buyers of debt this week. Retail and institutional investors in the capital market bought only 15 million rials in long-term bonds. Banks took 18.28 trillion rials in long-term debt and 13.959 trillion rials in short-term bonds.