Crossword Genius

Rank rodent close to hole (4)

Ross

I believe the answer is:

rate

'rank' is the definition.
('rate' can be a synonym of 'rank')

'rodent close to hole' is the wordplay.
'rodent' becomes 'rat' (rat is a kind of rodent).
'close to' indicates one should take the final letters (the close/ending of).
The last letter of 'hole' is 'e'.
'rat'+'e'='RATE'

(Other definitions for rate that I've seen before include "Capital of the Philippines" , "Measure as of value or speed" , "standard levy" , "Appreciate" , "Assess or grade" .)

I've seen this clue in The Telegraph.
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