Indonesia Secures 9 Trillion Rupiah in Islamic Bond Auction

Indonesia successfully raised 9 trillion rupiah ($554 million) in an Islamic bond auction. The total incoming bids were 33.11 trillion rupiah, which was lower than the 43 trillion rupiah received in the previous auction on August 5.

Indonesia's finance ministry announced a successful Islamic bond auction on Tuesday, securing 9 trillion rupiah ($554 million), achieving its indicative target.

Despite hitting the target, the total incoming bids were significantly lower at 33.11 trillion rupiah compared to 43 trillion rupiah in the last auction on August 5.

The conversion rate stood at $1 to 16,235 rupiah during the auction.