Indonesia raises 11 trln rupiah from Islamic bonds auction, above target

Indonesia raised 11 trillion rupiah ($748.81 million) from a biweekly Islamic bonds auction on Tuesday, above the indicative target, the finance ministry said.

JAKARTA, July 21 (Reuters) - Indonesia raised 11 trillion rupiah ($748.81 million) from a biweekly Islamic bonds auction on Tuesday, above the indicative target, the finance ministry said.

The weighted average yields for the sukuk were lower than comparable notes sold at the previous auction on July 7.

Incoming bids reached 40.20 trillion rupiah, compared with 41.61 trillion rupiah in the previous auction.

($1 = 14,690.0000 rupiah)

(Reporting by Tabita Diela; Editing by Andrew Heavens)

((tabita.diela@thomsonreuters.com; +628111135032;))

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