The Indonesian rupiah traded around IDR 17,870 per U.S. dollar on Thursday, near record-weak levels, as investors watched July U.S. PPI data for clues on the Federal Reserve and looked ahead to President Prabowo Subianto's 2027 budget presentation on Friday. Markets are focused on whether Indonesia will keep its deficit below the 3% of GDP legal ceiling after the government said the 2026 shortfall would stay under that threshold, even as the 2026 deficit is projected at about 2.85% versus 2.48% initially proposed. Attention is also on Bank Indonesia after Prabowo nominated Aida Budiman as senior deputy governor and Destry Damayanti as the sole candidate to replace Perry Warjiyo, as well as on Danantara Sumberdaya Indonesia, the new state body whose export mandate remains unclear. Tax receipts rose more than 23% year on year in January through July, while July inflation slowed to a three-month low of 2.88%, potentially giving policymakers more room to approach any further tightening cautiously after 100 basis points of rate hikes in May and June to support the currency.