The Indonesian rupiah edged up to around IDR 17,490 per dollar on Wednesday, recovering after briefly sliding past 17,500 the prior day, a fresh record low. Support came from growing speculation that the central bank may lift its benchmark rate at next week’s meeting, after keeping it at 4.75% since October, to stem capital outflows and defend the currency. Sentiment also improved as the government will launch a bond stabilisation fund to support the debt market amid rising yields and continued foreign selling. Still, the rebound was modest as the dollar index strengthened further after hotter-than-expected U.S. inflation data, dampening hopes for near-term Fed cuts. President Prabowo recently criticized Governor Perry Warjiyo over the rupiah’s weakness while backing seven new measures, including tighter forex rules and liquidity adjustments. Still, the rupiah has lost about 4.6% this year, weighed down by soft fundamentals, shrinking reserves, fiscal strains, and sustained outflows.