The Indonesian rupiah edged higher to near IDR 17,850 per U.S. dollar on Tuesday, snapping an eight-session losing streak after Bank Indonesia pledged intervention to ensure orderly trading. Officials said tools would include offshore and domestic NDFs, spot FX transactions, and secondary-market bond purchases. The central bank began its two-day policy meeting today, with local media and analysts widely expecting interest rates to stay unchanged as policymakers lean on FX operations and central bank securities to steady the currency. Borrowing costs have been held for two months after 100bps of hikes since May. On the fiscal side, Finance Minister Suahasil Nazara urged constructive debate over the statutory 3% deficit cap, following lawmakers’ push to revise the 2003 State Finance Law to allow wider shortfalls for social programs. Gains were constrained, however, by a firmer U.S. dollar near a two-month high, as hawkish Fed remarks supported higher-for-longer rate expectations.