March 12, 2020 / 4:11 AM / 17 days ago

Indonesia buys 4 trln rupiah of bonds in auction, may run 2nd auction

JAKARTA, March 12 (Reuters) - Indonesia’s central bank has bought 4 trillion rupiah ($276.53 million) of government bonds in an auction on Thursday morning, exceeding the targeted amount, and may conduct a second auction later, a senior official said.

Auction bids were 8.82 trillion rupiah, more than four times the 2 trillion rupiah Bank Indonesia (BI) had targeted to buy, Nanang Hendarsah, the central bank’s head of monetary management told Reuters.

“We may conduct another auction in the afternoon session,” he said, adding that the second auction may be conducted at 0730 GMT.

Hendarsah earlier said the morning auction was intended to guard the rupiah amid capital outflows linked to fears of the coronavirus pandemic. ($1 = 14,465.0000 rupiah) (Reporting by Maikel Jefriando and Gayatri Suroyo Editing by Shri Navaratnam)

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