The Indonesian rupiah traded around IDR 17,900 per U.S. dollar on Thursday, edging lower after briefly strengthening to IDR 17,835 in the previous session. The currency remained supported by a weaker dollar index as the agreement to partially reopen the Strait of Hormuz weighed on crude oil prices, helping curb inflation concerns and reducing expectations for more aggressive Fed tightening. Locally, caution lingered ahead of Bank Indonesia’s July forex reserves release following June’s modest rise from a near two-year low. Meanwhile, Q2 annual GDP growth slowed to 5.29% from 5.61% in Q1 as consumption and state spending cooled. Despite the day’s pullback, the rupiah remained up about 0.4% for the week, aided by softer July inflation following food stabilisation efforts and harvest gains in Java. Foreign inflows into government bonds also helped underpin the rupiah, while overseas investors returned as net buyers of domestic equities in July after several months of sustained selling.