Rupee hits 3-week high

Rupee rose to its highest level in three weeks on Tuesday as a broad sell off in global commodities raised hopes the pressure on the country's record current account deficit will ease and give the central bank more room to cut rates.

Rupee ended at 54.15/16 per dollar versus its previous close of 54.6250/6350. The rupee rose to as high as 54.12, its strongest since March 25.

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