MUMBAI, July 24 (Reuters) - The Indian rupee is expected to decline on Monday, tracking a fall in other Asian currencies on the back of an uptick in near maturity U.S. yields.

Non-deliverable forwards indicate the rupee will open at around 82.02-82.04 to the U.S. dollar, compared with the previous session's close of 81.9450.

The rupee held in a narrow range of 81.94 to 82.20 last week amid possible dollar purchases by the Reserve Bank of India and portfolio inflows.

"This week is full of important central bank meetings and hopefully there should be a little more volatility and volumes," said a forex trader at a bank.

In line with Asia, the USD/INR pair will open higher, but "we would say the bias is slightly on the downside", he said.

The U.S. Federal Reserve and the European Central Bank are widely expected to hike rates this week, while the Bank of Japan is unlikely to tweak its current yield curve control policy.

The Fed is almost certain to raise rates by 25 basis points on Wednesday and economists expect the U.S. central bank to maintain a hawkish tone.

"There are encouraging signs (U.S.) price pressures are moderating, but it's not clear it's enough to get inflation back to 2% sustainably," ANZ said in a note.

"Fed Chair (Jerome) Powell is likely to reiterate his view that additional tightening will be needed. We expect him to remain hawkish on inflation despite signs of progress on disinflation."

The 2-year U.S. yield rose to 4.8650%. Asian currencies were down 0.1% to 0.4%.

Along with the Fed decision, investors are also awaiting a slew of key U.S. data prints this week, including the flash purchasing manager's index, the June-quarter GDP data, the initial jobless claims print, and the core personal consumption expenditures index.

KEY INDICATORS: ** One-month non-deliverable rupee forward at 82.10; onshore one-month forward premium at 7.5 paisa ** USD/INR NSE July futures settled at 82.0050 on Friday

** USD/INR July forward premium at 1.75 paisa ** Dollar index at 101.02 ** Brent crude futures down 0.4% at $80.8 per barrel ** Ten-year U.S. note yield at 3.85% ** SGX Nifty nearest-month futures NOT AVAILABLE ** As per NSDL data, foreign investors bought a net $565.4mln worth of Indian shares on July 21

** NSDL data shows foreign investors bought a net $128.8mln worth of Indian bonds on July 21 (Reporting by Nimesh Vora; Editing by Subhranshu Sahu)