New Delhi, Oct. 12 -- The Indian rupee appreciated 93 paise against the US dollar on Monday, marking its steepest single-day gain in more than six months, after the Reserve Bank of India (RBI) announced measures to curb speculative activity in the foreign exchange market.

The domestic currency closed at 95.78 against the dollar, compared with its previous close, after opening at 95.61. During the session, it touched a high of 95.57 and a low of 95.96.

The RBI announced a series of measures on Saturday to strengthen the rupee and improve conditions in the forex market. The steps included tighter rules for foreign exchange derivatives transactions and a requirement for banks to maintain a 20% reserve against dollar purchases exceeding $2 ...