Investing.com — Indonesia is selling bonds denominated in dollars and euros on Tuesday as the country faces economic challenges linked to the Iran conflict.
The Southeast Asian nation is offering five- and 10-year dollar notes along with €1.25 billion ($1.45 billion) worth of euro-denominated bonds, according to people familiar with the matter. Indonesia has accessed multiple currency markets this year, including the dollar, euro, yen, and Chinese yuan.
Indonesian markets have declined recently, with the rupiah reaching a record low. The currency weakness comes amid an inflation-driven global selloff and the government’s announcement that it will centralize commodity exports to manage capital flows.
The government has started buying back its bonds to address rising yields and reduce capital outflows. The move represents the latest measure to address investor concerns about President Prabowo Subianto’s economic management and the effects of the Iran war.
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