The rupee depreciated by 18 paise to 62.84 a dollar in early trade today on the Interbank Foreign Exchange market due to appreciation of the American unit against major currencies overseas.Increased month-end demand for the dollar from banks and importers also put pressure on the rupee.The rupee had lost 73 paise to close at two-month low of 62.66 against the US currency on strong dollar buying by banks and importers.