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Apr 18, 2026
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RBI’s oil forex window set to fuel rupee recovery
The Reserve Bank of India has opened an exclusive foreign exchange window for supplying dollars to state-run refiners, easing pressure on the spot exchange rate, currency analysts, bankers and traders told ET. It’s likely routed through state-run lenders such as the State Bank of India, they said.
The central bank has used this strategy previously to ease pressure on the rupee--during the socalled taper tantrum of 2013, the Russian-Ukraine war and on occasions when demand from oil companies added to pressure on the currency.
“On an average, daily dollar demand from oil companies is around $500-550 million,” said Anil Bhansali, head of treasury at Finrex Treasury Advisors.
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