Forex
Indonesian Rupiah Holds Firm Below IDR 17,700 Amid Stronger External Buffers
The Indonesian rupiah held steady below IDR 17,700 per U.S. dollar for a third consecutive session on Monday.
This stability is attributed to the country's stronger external buffers and signs of fiscal prudence.
Indonesia's August forex reserves rose to a five-month high of USD 146.5 billion, primarily due to government withdrawals of external loans.
The government has committed to lowering its 2027 fiscal deficit to 2.4% of GDP from this year's 2.68%, indicating tighter fiscal management.