JAKARTA: Indonesia's finance ministry sold 12 trillion rupiah ($1.06 billion) in bonds at an auction on Tuesday, more than an indicative target of 8 trillion rupiah, the ministry's debt office said.

The country sold all offered securities, with most yields down compared with the previous auction on Oct. 8.

The biggest decline was for the 16-year bond whose yield was 7.82447 percent, compared with 8.58130 percent in the previous auction.

There were 33.70 trillion rupiah of incoming bids, with the highest bid-to-cover ratio at 4.91 times for the 16-year bond.

As of Oct. 17, foreign investors held 300.47 trillion rupiah in government bonds.