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OMCs see little gain from RBIs dollar window

OMCs see little gain from RBIs dollar window

The public sector oil marketing companies (OMCs) have said that they do not look for any direct gains from the Reserve Bank of India's foreign exchange swap window. Such window was announced by RBI on August 28. The RBI announced the window to meet their daily dollar requirements to import crude oil. But the oil companies agreed the apex bank's measure would bring down rupee's volatility.