To meet the daily dollar requirements of Indian oil marketing companies-IOC, HPCL and BPCL and stabilise the falling rupee, the Reserve Bank of India has now opened a special window to issue dollars.
The RBI will buy and sell dollars for a fixed tenure through a designated bank.
RBI said in a statement last week that on the basis of assessment of current market conditions, the apex bank has decided to open a forex swap window to meet the entire daily dollar requirements of three public sector oil marketing companies (IOC, HPCL and BPCL).
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