Indonesia raises $693.24mln from Islamic bonds auction -finance ministry

Islamic bonds with a shorter maturity were sold with slightly higher yields on Tuesday

  
Muslims, including one clutching prayer beads, attend Friday prayers during the opening of the Ibn-Rushd-Goethe Mosque on June 16, 2017 in Berlin, Germany. Image used for illustrative purposes.

Muslims, including one clutching prayer beads, attend Friday prayers during the opening of the Ibn-Rushd-Goethe Mosque on June 16, 2017 in Berlin, Germany. Image used for illustrative purposes.

Getty Images/Sean Gallup

JAKARTA  - Indonesia raised 10 trillion rupiah ($693.24 million) from sales of Islamic bonds in an auction on Tuesday, inline with targets, the Finance Ministry said in a statement.

The total incoming bids were 19.9 trillion rupiah at Tueday's auction, higher than the 17.9 trillion rupiah in the previous auction on April 20.

Islamic bonds with a shorter maturity were sold with slightly higher yields on Tuesday, than the yield for comparative bonds in previous auction, while the longer-tenure bonds were sold with lower yields. ($1 = 14,425.0000 rupiah)

(Reporting by Fransiska Nangoy, Nilufar Rizki Editing by Ed Davies) ((Fransiska.Nangoy@thomsonreuters.com;))

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