Indonesian Bond Demand at 10-Month Low as Rupiah Weakens

Demand for Indonesian bonds fell to the lowest in 10 months at an auction as a selloff in the rupiah deepened and concerns over the country’s fiscal health persisted.

Indonesia sold 36 trillion rupiah ($2.1 billion) of debt on Tuesday, an upsized amount that drew just 82.9 trillion rupiah of bids, according to the Ministry of Finance’s debt management office. The bid-to-target ratio fell to 2.51, the weakest since March 18, according to data compiled by Bloomberg.