The Indonesian rupiah strengthened to around IDR 17,720 per U.S. dollar, heading toward a third consecutive weekly gain, as a weaker dollar and Bank Indonesia’s renewed focus on currency stability supported investor confidence. Credit growth accelerated to 13.58% year on year in July, above the central bank’s 8–12% target for end-2026, while officials held the benchmark rate at 5.75% for a second month. Gains remained vulnerable to U.S. interest-rate shifts, geopolitical tensions, commodity-price swings, Indonesia’s oil-import-driven trade gap and potential El Niño-related food inflation.