Indonesia Exceeds Target in Lucrative Islamic Bond Auction

Indonesia has successfully raised 12 trillion rupiah, approximately $734.17 million, through an Islamic bond auction, surpassing its initial target of 8 trillion rupiah, according to the finance ministry.

The auction attracted total bids worth 39.72 trillion rupiah, notably exceeding the bids of 36.89 trillion rupiah recorded in the previous auction on June 10.

This achievement underscores strong market interest in Indonesia's Islamic bonds as the nation continues to engage investors actively.

(With inputs from agencies.)