New Delhi, July 28 -- MUMBAI - The Reserve Bank of India stepped into the currency market on Monday as the rupee staged its sharpest single-day advance in six weeks, aided by a simultaneous slide in global oil prices that relieved pressure on one of the Indian economy's most persistent vulnerabilities.

Traders said the central bank sold dollars into the market to support the rupee against a backdrop of conflicting pressures - and this time, the combination of RBI support and easing crude costs produced a meaningful recovery. The rupee gained more than one percent in the session, closing around 84.15 per dollar compared with 85.20 at Friday's close, its best performance since early June, according to Reuters.

The intervention was charact...