Indonesia aims to reduce the portion of bond issuance in foreign currencies to 14%-18% of total planned issuance, Finance Ministry senior official Loto Srinaita Ginting said on Wednesday. "The aim is to reduce portion of foreign exchange issuance. It was previously at around 20% or even up to 25%," she told reporters. The government is planning to raise a total of 735.52 trillion rupiah ($53.19 billion) from bonds this year.

The government also plans to space out bond issuance in foreign currencies through the year in 2020, instead of issuing most of them at the beginning of the year. Indonesia has raised the equivalent of $3.1 billion from US-dollar and euro-denominated bond sales earlier this month.