Rupee gains on hopes that gold fall will trim CAD

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The Indian rupee gained ground today on hopes that a fall in commodities like gold and crude oil would help the current account deficit and hence recovery of the rupee.

The Indian rupee was last trading at Rs 54.48, up 15 paise over Monday's close. The Indian rupee has been rangebound in the last few weeks with less volatility then before.

In 2012, despite Indian markets staging a smart recovery, the rupee failed to recover.

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