March 13, 2020 / 4:27 AM / 25 days ago

Indonesia c.bank buys $405 mln of govt bonds, may hold another auction -official

JAKARTA, March 13 (Reuters) - Indonesia central bank bought 6 trillion rupiah ($405.13 million) worth of government bonds from an auction on Friday, above an initial target of 3 trillion rupiah, an official told Reuters.

Bank Indonesia will hold a second auction starting 0730 GMT if necessary, said Nanang Hendarsah, Bank Indonesia’s head of monetary management.

Auction bids on Friday were 10.2 trillion rupiah, he said. The bond-buying auction is part of the central bank’s effort to help stabilise the country’s financial market as the rupiah dropped 2% on Friday.

$1 = 14,810.0000 rupiah Reporting by Gayatri Suroyo Writing by Fransiska Nangoy Editing by Shri Navaratnam

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