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RBI opens special USD window for three oil PSUs to support INR
The RBI said the facility will let Indian Oil, Hindustan Petroleum, and Bharat Petroleum meet their full daily dollar needs for oil purchases starting October 12, 2026.
The Reserve Bank of India has opened a special USD window for three state-run oil marketing companies as part of efforts to support the Indian rupee versus the US dollar, LiveMint Markets reports.
The facility is scheduled to take effect on Monday, October 12, 2026, after the RBI announced it on Saturday, October 10, 2026.
Under the arrangement, Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited, and Bharat Petroleum Corporation Limited will be able to meet their entire daily dollar requirements for oil purchases through the RBI’s special window rather than the open market.
Experts cited by LiveMint Markets said the designated banks are expected to meet the extra USD demand through mechanisms including FCNR bonds and deposit swaps.