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USDINR

* USDINR trading range for the day is 79.64-80.06.

* USDINR dropped as exporters sold dollars, allowing the local currency to withstand a rise in oil prices.

* Rupee has been hovering in a narrow trading range just above the 80 level, thanks to the RBI's interventions amid deteriorating risk sentiment.

* The inflation remained above the RBI's target range of 2%-6% for a 7th straight month in July

EURINR

* EURINR trading range for the day is 79.11-79.73.

* Euro recovered from lows as Eurozone's consumer confidence unexpectedly recovered in August from July's record low

* Investors digest more hawkish comments from Fed officials and await key speeches

* Investors also await the ECB's accounts of its latest monetary policy decision at a time the economic outlook in Europe gets more and more gloomy.

GBPINR

* GBPINR trading range for the day is 93.92-94.62.

* GBP recovered after PMI data from Britain showed that business activity slowed roughly in line with expectations. 

* The PMI composite flash estimate dropped to 50.9 in August from 52.1 in July.

* Citi economists forecasted inflation to surge to 18.6% by the start of 2023 due to soaring wholesale gas prices

JPYINR

* JPYINR trading range for the day is 58.24-58.76.

* JPY gains as investors assessed whether weak US economic data may slow the pace of Federal Reserve rate hikes.

* The Bank of Japan repeatedly said that it will maintain ultra-low interest rates to support a fragile economy

* BOJ is expected to retain its current policy even after Japanese headline and core inflation rates accelerated to multi-year highs

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