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Indonesia sells 12 trln rupiah of bonds at auction, far above target
August 27, 2013 / 8:59 AM / 4 years ago

Indonesia sells 12 trln rupiah of bonds at auction, far above target

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

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