Don’t look now but Indonesia’s rupiah as of this writing seems to be knocking at the September 5 low of 11,701.
At the moment, the USD-Rupiah pair trades at 11,535.
And I find it bizarre on what grounds the Indonesia’s central bank predicts zero inflation this September when the rupiah seems on a renewed meltdown mode.
Yet markets appear to be complacently ignoring this development when a continued run on the rupiah could trigger a regional crisis.
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