Bonds Generate $879m

EghtesadOnline: The government sold 448.7 trillion rials ($879.8 million) bonds in the 43rd weekly auction -- the highest in the last fiscal year that ended on March 20.

News ID: ۷۵۲۳۶۹

04 April 2023

The government sold 448.7 trillion rials ($879.8 million) bonds in the 43rd weekly auction -- the highest in the last fiscal year that ended on March 20.

Bond auctions are held by the Central Bank of Iran on behalf of the Economy Ministry to raise funds for the government’s deficit spending.

A report on the CBI website said the debt was mostly bought by institutional investors and that banks and credit institutions took 74 trillion rials ($145m).

Banks prefer short-term debt with lower yields while institutional investors are more inclined towards long-term debt with higher profits. The shortest maturity date for the latest debt is May 2023 at 25.6%.