Indonesia raises 8 trillion rupiah from sukuk auction, above target

• The weighted average yeilds for the bonds were lower than comparable sukuk sold in the previous auction.
• Total incoming bids for Tuesday's auction were 69.6 trillion rupiah, bigger than in the previous auction.

JAKARTA: Indonesia on Tuesday raised 8 trillion rupiah ($584.80 million) from a biweekly Islamic bonds auction, slightly higher than its initial indicative target of 7 trillion rupiah, according to the finance ministry.

The weighted average yeilds for the bonds were lower than comparable sukuk sold in the previous auction.

Total incoming bids for Tuesday's auction were 69.6 trillion rupiah, bigger than in the previous auction.