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

JAKARTA: Indonesia raised 11 trillion rupiah ($748.81 million) from a biweekly Islamic bonds auction on Tuesday, 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 7.

Incoming bids reached 40.20 trillion rupiah, compared with 41.61 trillion rupiah in the previous auction.