JAKARTA. The government will sell rupiah-denominated state bonds worth Rp 8 trillion (US$720 million) in an auction on Tuesday.

The funds obtained from the bonds will be used to reach financing targets in the 2013 state budget (APBN).

The Finance Ministry’s debt management directorate general office said in an official release on Monday that the bonds would consist of four series’ with a nominal value of Rp 1 million per piece.

Bank Indonesia will be responsible for conducting the auction, according to the ministry.

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