The rupee depreciated by 8 paise to 65 rupees 9 paise against the dollar in late morning trade today. On Friday, the rupee had bounced back in style to end at a one-week high of 65 rupees one paise after Moody's upgraded India's sovereign credit rating.In the stock market, after initial losses, the benchmark BSE Sensex recovered 14 points to 33,357. NSE Nifty was up about 3 points to 10,286 when reports last came in.