10-Oct-2026 18:05:47
RBI opens dollar window for oil firms from Oct 12, cuts forex exposure limit to $5 million
The RBI announced measures on Saturday as the rupee closed Friday at ₹96.73 per dollar, near its ₹96.82 record closing low. From October 12, the central bank will meet the daily dollar requirements of Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation through a special facility. It also cut the limit for forex derivative transactions without proof of underlying exposure from $100 million to $5 million, barred rebooking certain cancelled rupee-linked contracts and required a 20% cash reserve on eligible contracts above $2 million.