Indonesia raises 11 trln rupiah from Islamic bonds auction, above target

JAKARTA: Indonesia raised 11 trillion rupiah ($755.49 million) on Tuesday from a biweekly Islamic bonds auction, above the indicative target, the finance ministry said.

The weighted average yields for the sukuk were lower than comparable notes sold at the previous auction on July 21.

Incoming bids reached 39.77 trillion rupiah, compared with 40.20 trillion rupiah in the previous auction.