RBI Opens Special Dollar Window, IOC, BPCL And HPCL Get Full Daily Forex Support
RBI will open a special dollar window for Indian Oil, BPCL and HPCL from October 12 meeting their entire daily requirements through designated banks until further notice is issued.
RBI | File Photo
New Delhi: The Reserve Bank of India has announced a special foreign exchange window to meet the entire daily US dollar requirements of three public sector oil marketing companies. The facility will begin on October 12, 2026, and remain operational until further notice, according to the central bank’s statement.
The arrangement covers Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation, providing a designated channel for their daily foreign currency needs.
ALSO READ
Special Dollar Window For Oil Companies
RBI said the decision followed an assessment of market conditions. Under the facility, it will sell US dollars to the three state-run companies through designated banks.
The mechanism will route their dollar requirements through this banking arrangement instead of the fuel retailers sourcing those dollars through open-market bidding.
The announcement specifies that the window will meet their complete daily dollar demand, rather than only a portion of their requirements.
Designated Banks To Handle Transactions
The central bank will undertake dollar sales through banks selected for the facility. These institutions will act as the channel between RBI and the participating oil marketing companies.
The structure provides a route for the companies’ foreign exchange transactions while keeping designated banks responsible for handling the dollar sales.
RBI’s statement identifies the three eligible companies and confirms the start date. It does not specify an end date, stating that the arrangement will continue until further notice.
Currency Market Conditions Guide Decision
The announcement follows RBI’s review of prevailing conditions in currency and financial markets.
Moving the covered companies’ dollar purchases to a dedicated window would shift that demand away from their usual open-market sourcing. However, the statement does not quantify daily transaction volumes or predict the facility’s effect on the rupee.
October 12 Start Confirmed
Operations are scheduled to begin on Monday, October 12. Indian Oil, BPCL and HPCL will access the facility through designated banks.
RBI will supply their daily dollars until the arrangement is withdrawn.
RECENT STORIES
-
-
-
-
-