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RBI Announces Special Dollar Window for PSU Oil Firms to Ease Rupee Pressure
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CNBC TV18•10-10-2026, 08:46
RBI Announces Special Dollar Window for PSU Oil Firms to Ease Rupee Pressure
- •The Reserve Bank of India has announced a special window to meet the daily dollar requirements of Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited, and Bharat Petroleum Corporation Limited starting October 12, 2026.
- •Under this new arrangement, the central bank will sell US dollars to the three public sector oil marketing companies through designated banks until further notice.
- •The decision follows an assessment of current market conditions and aims to relieve pressure on the domestic currency, which has recently traded at record-low levels against the US dollar.
- •Oil marketing companies heavily rely on foreign exchange to finance their massive crude oil imports, making the dedicated dollar channel crucial for their operations.
- •While the RBI confirmed the launch of the facility, it has not yet disclosed the specific pricing mechanism or the anticipated volume of foreign exchange to be supplied.
Key Questions Answered
The Reserve Bank of India's special dollar window covers three public sector oil marketing companies: Indian Oil Corporation Limited (IOCL), Hindustan Petroleum Corporation Limited (HPCL), and Bharat Petroleum Corporation Limited (BPCL).
The special window provides a dedicated channel to meet the entire daily dollar requirements of the three state-run oil marketing companies to pay for crude oil imports, helping ease pressure on the rupee.
On Friday, October 9, 2026, the domestic currency appreciated 17 paise to close at 96.71 against the US dollar, recovering from its previous close of 96.88.
