Indonesia raises $480.19 million in Islamic bond auction

Indonesia raised 8 trillion rupiah ($480.19 million) in an Islamic bond auction on Tuesday, higher than the indicative target of 7 trillion rupiah, its finance ministry said.

Total incoming bids stood at 18.85 trillion rupiah, lower than the 34.46 trillion rupiah at the previous auction on November 25. ($1 = 16,660 rupiah)