JAKARTA - Indonesia raised 8 trillion rupiah ($548.62 million) in an Islamic bonds auction on Tuesday, the Finance Ministry said in a statement, below an indicative target of 9 trillion rupiah.

Total incoming bids were 20.22 trillion rupiah at Tuesday's auction, larger that the 17.02 trillion rupiah of bids in the previous sukuk auction on May 17.

The Islamic bonds sold on Tuesday also carried lower yields compared to similar notes in the previous auction.

($1 = 14,582.0000 rupiah)

(Reporting by Fransiska Nangoy, Bernadette Christina Munthe Editing by Ed Davies)