RBI opens a special dollar window for oil companies as the rupee hovers near record lows
The Reserve Bank of India is opening a special window to sell dollars to oil companies (Reuters, Moneycontrol). The Hindu BusinessLine says it will meet the daily dollar needs of state-run oil firms as crude prices rise, and Aaj Tak says it opens on Monday, 12 October. The Financial Times says the central bank is trying to shore up the rupee as it nears record lows. The rupee ended at 96.73 to the dollar.
Oil companies are among the biggest daily buyers of dollars. Supplying them directly takes that demand off the open market and can steady the rupee.
A weak rupee raises the price of imported fuel, electronics, overseas education and foreign travel. The window may slow the slide but does not reverse it.
The size of the window is not yet confirmed. Watch the rupee on Monday morning.
DailyDrop India edition No. 7 · Morning · SUN., OCT. 11, 2026