Government bonds again failed to attract buyers on Wednesday as banks, credit institutions and institutional investors stayed away.
Bond auctions are held by central bank on behalf of the Economy Ministry to raise funds for the government’s deficit spending. Buyers normally are banks, credit institutions, investment funds and institutional investors.
As banks refused to partake, institutional investors bought a paltry 20 billion rials ($46,000) in debt in the 39th weekly auction, the Central Bank of Iran website reported. The shortest maturity date for the latest debt offer was May 2023 at 23.80%.