India, Oct. 12 -- The Reserve Bank of India (RBI) has announced a special dollar window to meet the entire daily foreign exchange requirements of three public sector oil marketing companies (OMCs) — Indian Oil Corporation Ltd (IOCL), Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL).
The facility, effective October 12, 2026, will allow the RBI to sell US dollars to these companies through designated banks. The arrangement will remain in place until further notice.
The move comes amid prevailing foreign exchange market conditions and aims to facilitate the oil companies' daily dollar requirements while easing demand pressure in the spot foreign exchange market.
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