Indonesia raised 7 trillion rupiah ($512.26 million) in a biweekly Islamic bond auction on Tuesday, in line with an indicative target, according to the financing and risk management office at the Finance Ministry. Total incoming bids for Tuesday's auction were 59.14 trillion rupiah.

Indonesia aims to raise 165.5 trillion rupiah of bonds as its first-quarter target between January and March this year through its regular weekly auction according to the government website.