Economy
RBI Opens Special USD Window for State-Run Oil Companies
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THE BRIEF
1
The Reserve Bank of India announced a special facility effective October 12, 2026, allowing three state-run oil marketing companies to meet their entire daily dollar requirements.
2
The facility applies exclusively to Indian Oil Corporation, Hindustan Petroleum, and Bharat Petroleum, which collectively constitute about 90% of net petroleum product sales in India.
3
By purchasing US dollars directly from designated Indian banks instead of the open market, the move aims to lend crucial support to the falling Indian Rupee.