Indonesia raises 5.16trn rupiah from Islamic bonds auction, below target

JAKARTA: Indonesia raised 5.16 trillion rupiah ($358.83 million) in an Islamic bonds auction on Tuesday, below the indicative target of 6 trillion rupiah, the financing and risk management office at the finance ministry said.

The weighted average yields for project-based sukuk sold on Tuesday were mixed, compared with yields of comparable sukuk sold in the previous auction.

Total incoming bids at Tuesday's auction were 13.5 trillion rupiah, lower than the previous auction on May 14.