Indonesian Rupiah Knocking at New Lows?

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.