Bond Auction Raises $15m

The weekly government bond auction held by the Central Bank of Iran barely generated 5.55 trillion rials ($15.3 million), after getting a cold shoulder for two consecutive weeks.
Auctions are held by CBI 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 banks and credit institutions, this week, equity market investors were the only buyers. Retail and institutional investors in the capital market bought 464.6 billion rials in long-term and 5.04 trillion rials in short-term debt.