Indonesian Rupiah Extends Losing Streak Amid Dollar Strength

The Indonesian rupiah continued its downward trend on Tuesday for a fourth consecutive session, reaching as low as IDR 17,700 per U.S. dollar.

This decline comes amidst a strengthening U.S. dollar index ahead of the Federal Reserve's policy decision later this week.

Elevated oil prices are also contributing to concerns about inflation in Indonesia, which is heavily reliant on imported energy.

The country's headline inflation rate accelerated to 3.19% in August, raising worries about the fiscal position and potential pressure on the rupiah.