Indonesia raises 775bn rupiah in debt auction

JAKARTA: Indonesia only raised 775 billion rupiah ($84.33 million) in a debt auction on Monday after aiming for sales of 6 trillion rupiah, the debt office said, on speculation that foreign investors avoided high exchange-rate risks.

The finance ministry has raised 25.02 trillion rupiah from debt auctions this quarter out of a 46.5 trillion rupiah target. It raised 60.387 trillion rupiah in the first quarter.

Foreign investors have sold 2.78 trillion rupiah of Indonesian government bonds this quarter, taking down their ownership to 29 percent of total outstanding bonds, data as of May 11 from the debt office showed.