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USDINR

USDINR trading range for the day is 77.41-77.85.

USDINR dropped as India govt will likely to stick to fiscal deficit target

India considering spending additional $26 billion to fight inflation

India cenbank gives sharply lower surplus of 303 bln rupees to govt

EURINR

EURINR trading range for the day is 81.99-83.35.

Euro rose as investors sold the dollar on hopes that loosening lockdowns in China could help global growth.

ECB Villeroy de Galhau warned a lower euro could threaten the ECB's efforts to steer inflation towards its target.

Money markets are currently pricing in 105 bps worth of ECB rate hikes by year-end, up from around 95 bps earlier in the week.

GBPINR

GBPINR trading range for the day is 97.23-97.93.

GBP gained as investors sold the U.S. unit on hopes that loosening lockdowns in China could help global growth.

The Bank of England will need to raise interest rates further to combat the risk of self-perpetuating price rises.

Traders await key data on the UK's manufacturing industry this week.

JPYINR

JPYINR trading range for the day is 60.47-61.37.

JPY remained supported as risk sentiment improved despite a challenging market environment marred by rising interest rates, surging inflation and global growth concerns.

Support also seen by a weaker dollar, with fears that aggressive Federal Reserve rate hikes would tilt the US economy into recession.

BOJ's Kuroda vows to keep ultra – easy monetary policy

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