Indonesia's bonds auction oversubscribed

The sales of Indonesia's bond on Tuesday was oversubscribed, indicating strong demand for the country's commercial paper.

The country's finance ministry sold 17 trillion rupiah (about 1.276 billion U.S. dollars) of bonds at an auctions with total incoming bids of 47.14 trillion rupiah (3.539 billion U.S. dollars), the ministry said in a statement.

Attractive yields supported by subdued inflation and strong rupiah against the U.S. dollar have lured foreign capitals.

Besides, sound macro-economic condition and good prospect of economic outlooks have contributed to the yields. Enditem