The Indian rupee is seen supported in opening trades on Thursday as dollar weakens slightly ahead of major US data due for the week. INR opened at Rs 87.56 per dollar and edged lower to 87.59 so far during the day. On Tuesday, rupee depreciated 13 paise to close at 87.69 against the US dollar, tracking weak domestic markets after the US issued a draft notice on plans to implement an additional 25 per cent tariff on Indian products. Rupee lost momentum as worries over the looming 25 per cent additional US tariff on Indian goods, set to take effect from August 27, drove strong dollar demand from importers. Indian shares are seen on a weak note on Thursday after U.S. President Donald Trump's 50 percent tariffs on Indian goods came into effect on Wednesday. Indian markets were closed on Wednesday for Ganesh Chaturthi. Benchmark indexes Sensex and Nifty both fell over 1 percent on Tuesday after the Trump administration officially issued a notice regarding the imposition of an additional 25 percent tariffs on Indian imports.
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