Indonesia raises 6.6 trln rupiah from Islamic bonds auction, below target

• The weighted average yields for the sukuk were much higher than the comparable sukuk sold in the previous auction.
• Total incoming bids for Tuesday's auction were 14.6 trillion rupiah, less than in the previous auction.

JAKARTA: Indonesia on Tuesday raised 6.6 trillion rupiah ($401.22 million) from a biweekly Islamic bonds auction, below its indicative target of 7 trillion, the finance ministry said in a statement.

The weighted average yields for the sukuk were much higher than the comparable sukuk sold in the previous auction.

Total incoming bids for Tuesday's auction were 14.6 trillion rupiah, less than in the previous auction.