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Iran raises over $2.1 bn from domestic bonds auctions in 2 months: CBI

A view to the entrance of the Central Bank of Iran (CBI) in northern Tehran

The Central Bank of Iran (CBI) says domestic bonds issuance that began in early June has earned the government more than $2.1 billion in new resources.

The CBI said in a Wednesday statement that it had held 10 rounds of domestic bonds auctions worth 498 trillion rials ($2.165 billion) since June 2.

It said bonds had been offered in maturities of one to four years with yields between 16.7 to 19 percent.

Banks had bought more than 72 percent of the bonds or a total of 361 trillion rials (less than $1.6 billion), said the statement, adding that legal and real entities were responsible for 112 trillion rials ($487 million) of purchases followed by investment funds and finance firms that bought 25 trillion rials (around $101 million) of the bonds.

Bonds issuance has become a major part of Iranian government’s efforts to shore up finances that have been affected by American sanctions on oil exports.

The government has also listed shares of major state-run companies and banks, a policy that has paid off given the growing interests to invest in Iran’s stock market.

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