Economy
RBI Opens Special Dollar Window for Public Sector Oil Firms Amid Rising Prices
The Hindu1h
THE BRIEF
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The Reserve Bank of India announced a special window to meet the entire daily dollar requirements of three public sector oil marketing companies starting October 12, 2026.
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The facility aims to prevent state-run refiners from purchasing dollars from the spot market, which contributes to the depreciation of the Indian Rupee.
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The three oil marketing companies require approximately $300 million daily for crude imports, while the central bank maintains foreign exchange reserves of about $735 billion.