0404 GMT - The Indonesian rupiah is likely to weaken following its recent gains, HSBC Global FX Research analysts say in a report. Subdued portfolio inflows and a sharp decline in foreign-exchange reserves are weighing on the rupiah, it says. The Indonesian central bank has said it will pivot from using high yields to providing foreign-exchange hedging incentives for attracting inflows. "In our view, this strategy may be tested later if the external backdrop deteriorates," HSBC says. The dollar is 0.2% lower at 17600 rupiah.
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