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India's central bank opens a dollar window for oil firms to shore up the rupee
The Reserve Bank of India took steps to support the rupee and opened a dollar window for oil companies (Reuters). The FT said the currency is nearing record lows. The Straits Times reported that India unveiled tough curbs on dollar demand to defend the rupee.
A weak rupee raises the cost of imported oil, which feeds inflation, and India is a large trading partner for Singapore.
Indian-linked travel and remittance costs from Singapore may shift, and Asian currencies can move together when one comes under pressure.
Curbs and special windows buy time but do not fix the cause. Watch oil prices and the level of India's foreign-exchange reserves.
DailyDrop Singapore edition No. 7 · Morning · SUN., OCT. 11, 2026