Rupee sheds 8 paise against US dollar in early trade

The rupee depreciated 8 paise to 65.25 against the US dollar in early trade today at the forex market on increased demand for the US currency from importers and firm foreign fund outflows even as the country's economy grew to 7.2 per cent in the October-December quarter. Besides, strength in dollar against other currencies overseas on rising hopes that the Fed would hike interest rates also kept pressure on the domestic unit, dealers said. However, a higher opening in domestic equities capped the losses, the added. -- PTI