Rupee rallies 95 paise to six-month high after RBI measures

The Indian rupee appreciated by 95 paise to close at 95.78 against the US dollar on Monday, recording its steepest single-day gain in over six months.

The Reserve Bank of India introduced regulatory measures, including tighter derivatives rules and a special window for oil marketing companies, to curb speculation and volatility.

India's foreign exchange reserves declined by $12.95 billion to $734.60 billion in the week ended October 2, while the BSE Sensex fell 0.76% to 71,924.68.