The Indonesian rupiah firmed to around IDR 16,925 on Wednesday in thin holiday trade, rebounding from recent weakness as the dollar index softened ahead of the U.S. Fed’s rate decision and its first 2026 economic projections later today. Locally, Bank Indonesia Tuesday unveiled new measures to curb speculative activity in local currency, effective April, while keeping its benchmark rate unchanged at 4.75% for a sixth straight month. Notably, the board dropped earlier language about creating room to ease borrowing costs. Under the new rules, foreign-currency purchases above USD 50,000 per party per month will require supporting documents to ensure genuine demand. Meanwhile, the threshold for domestic non-deliverable forward sales will be doubled to USD 10 million per transaction, with similar increases for swaps. Governor Perry Warjiyo said the central bank will continue to optimize its policy mix to safeguard external resilience and maintain rupiah stability amid global uncertainty.