RBI’s press release on Oct 10 revealed a dedicated dollar window for Indian Oil, Hindustan Petroleum and Bharat Petroleum, allowing them to meet daily dollar needs via designated banks from Oct 12, 2026—no pricing mechanism or volume disclosed.
The rupee, which has been under pressure, recovered 17 paise to 96.71 against the dollar on Oct 9, easing from Thursday’s 96.88. Traders cite a softer dollar, easing crude prices and likely RBI intervention as the drivers.
The facility should let the three companies procure crude oil without scrambling for dollars, potentially stabilising input costs amid global oil price swings. The absence of a disclosed volume leaves market watchers speculating on the magnitude of liquidity injected.
Analysts view the move as a hedge against currency volatility that could support PSU oil stocks short‑term. Investors will monitor upcoming RBI policy statements and global oil price trends to gauge the window’s effectiveness.