Business & Finance

Indonesia sells 9.99trn rupiah of bonds at auction, below target

Published May 24, 2016 Updated May 24, 2016 09:20am

1 min

By Parvez Jabri

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JAKARTA: Indonesia sold 9.99 trillion rupiah ($730.26 million) worth of bonds at an auction on Tuesday, below the indicative target of 12 trillion rupiah, the finance ministry's financing and risk management office said.

Total incoming bids were 14.69 trillion rupiah, higher than the 13.43 trillion rupiah received in the previous auction on May 10.

The highest bid-to-cover ratio was 2.95 for the bonds maturing in May 2031.

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