JAKARTA, Aug 27 (Reuters) - Indonesia’s finance ministry sold 12 trillion rupiah ($1.11 billion) of bonds at an auction on Tuesday, far above an indicative target of 8 trillion rupiah despite concerns over the country’s economic outlook.
According to the ministry’s debt office, the yield on one-year T-bills was 6.87250 percent, down from 6.95853 percent at the previous auction on July 30. Yield for 10-year bonds was 8.68650 percent, up from 8.06998 percent.
The country sold 3.05 trillion rupiah of 1-year T-bills, 1.05 trillion rupiah of 5-year bonds, 6 trillion of 10-year bonds and 1.9 trillion of 20-year bonds .
Total incoming bids were 23.02 trillion rupiah, compared with 27.2 trillion rupiah on July 30. The highest bid-to-cover ratio was 2.92 for 5-year bonds.
$1 = 10,845 rupiah Reporting by Nilufar Rizki; Editing by Richard Borsuk