Treasury Bonds & ATM Limits

Rent Bonds: New Governmental Bonds in Iran

First series of Islamic Treasury bonds, worth $330 million, was bought back this week to register a positive record for the Government. The first series of ITB was released in September 2015 and was due 13 March 2016. Initial price of each bond at the market was $29.8 and total trade on the first day was $12.8 million. Over the six months their overall trade has been worth $126 million, ten times more than the first release. The Government is determined to develop the bond market in the coming year; reason for that a new kind of bonds, called Rent Bonds have been introduced after the first success.

Will ATMs give more cash?

Daily cash amount which could be drew from any ATM in Iran is maximum 2 million IRR (€53) on each deposit card. This limitation is set by Central Bank of Iran. As we are getting closer to Iranian new year, however, CB has permitted Bank Melli of Iran ATMs to give up to 5 million IRR (€132) for a limited period of time.
Other banks hope it would be the first step in shifting the cash cap on ATMs for the next year, at least up to 4 million IRR (€105) daily.
Central Bank has not commented on that so far.