As oil prices rise, RBI opens special window for PSU oil firms to meet their daily dollar need
The Reserve Bank of India is opening a special window for public sector oil companies to purchase dollars directly, aiming to reduce pressure on the spot market. This move is designed to prevent further depreciation of the Rupee as global oil prices rise.
Why it matters
Central bank interventions in currency markets are critical for maintaining macroeconomic stability during periods of high commodity prices.
With crude oil prices rising and public sector oil marketing companies needing more dollars to procure supplies, the Reserve Bank of India (RBI) on Saturday (October 10, 2026) announced to open a special window for them to meet their entire daily dollar requirement. This is to prevent them from buying dollar from the spot market which in turn lead to depreciation of the Rupee.
“On the basis of assessment of current market conditions, Reserve Bank of India has decided to open a special window to meet the entire daily dollar requirements of three public sector oil marketing companies (OMCs), viz. Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited and Bharat Petroleum Corporation Limited,” the RBI said in a notification.
“Under the facility, the Reserve Bank will undertake sale of USD to the public sector OMCs through designated bank/s,” it said.
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