The Indonesian rupiah weakened past IDR 17,300 per dollar on Wednesday, extending losses for a second session amid deepening fiscal concerns. Local media reported Jakarta may be facing funding constraints, with emergency reserves rapidly depleted amid rising debt repayments. Caution also built ahead of key domestic data later this week, including April CPI and March trade figures. Inflation eased to 3.48% in March, though upside risks loom from surging oil prices. Meanwhile, February’s trade surplus undershot expectations as imports jumped, adding pressure to external balances. Market participants appeared to discount Bank Indonesia’s recent support measures after it left rates unchanged for a seventh straight meeting, while foreign reserves fell to a near two-year low in March. Globally, the U.S. dollar index held steady as investors positioned for the Federal Reserve’s policy decision later today, expected to be Jerome Powell’s final meeting as chair before his term ends in May.