Interest Rates: Higher Indonesian interest rates can strengthen the IDR, attracting foreign investment. Conversely, lower rates may weaken it.

Inflation: High inflation erodes IDR's purchasing power, potentially leading to depreciation. Stable, low inflation usually supports the currency.

Economic Growth: Robust Indonesian economic growth often boosts IDR as it signals increased demand and investment opportunities.

Trade Balance: A trade surplus (exports exceeding imports) generally strengthens IDR, while a deficit can weaken it.

Government Debt: High government debt can weigh on IDR due to concerns about fiscal stability and repayment ability.

Political Stability: Political instability or uncertainty can negatively impact investor confidence, weakening the IDR.

Global Market Sentiment: Risk aversion in global markets can lead investors to seek safer assets, putting downward pressure on IDR.

Central Bank Intervention: Bank Indonesia's (BI) intervention in the forex market can influence IDR's value, buying or selling currency to stabilize it.