Indonesia raises 8 trillion rupiah from Islamic bonds auction, above target

• The weighted average yields for project-based sukuk sold on Tuesday were lower compared with the yields of comparable sukuk sold in the previous auction.
• Total incoming bids for Tuesday's auction were 46.91 trillion rupiah.

JAKARTA: Indonesia raised 8 trillion rupiah ($586.51 million) in a biweekly Islamic bonds auction on Tuesday, higher than the indicative target of 7 trillion rupiah, according to the financing and risk management office at the Finance Ministry

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

Total incoming bids for Tuesday's auction were 46.91 trillion rupiah.