Banks Buy $25m Bonds

Banks were the only buyers of government bonds in the last weekly auction held on Wednesday.
Auctions are held by the Central Bank of Iran 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. The 33rd auction barely generated 10,117 trillion rials ($24.9 million) from banks and credit institutions in the absence of retail and institutional investors.