RBI Opens Special Dollar Window For Indian Oil, HPCL And BPCL From 12 October As Rupee Pressure Keeps Oil Stocks In Focus
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The RBI will open a special dollar facility on 12 October 2026. It will cover the entire daily foreign-currency requirements of Indian Oil, HPCL and BPCL, as pressure on the rupee mounts.
In a press release dated 10 October 2026, the Reserve Bank of India (RBI) announced a dedicated facility for the supply of US dollars to three public sector oil marketing companies (OMCs) through designated banks.
The arrangement will begin on 12 October 2026 and remain operational until further notice. The central bank said the decision followed an assessment of prevailing market conditions.
RBI To Meet Full Daily Dollar Requirements Of Three PSU Oil Marketing Companies
The facility will cover the entire daily dollar requirements of:
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Indian Oil Corporation Limited (IOCL)
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Hindustan Petroleum Corporation Limited (HPCL)
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Bharat Petroleum Corporation Limited (BPCL)
Under the arrangement, the RBI will sell US dollars to these companies through designated banks. Oil marketing companies require dollars to pay for crude oil imports, making access to foreign currency important for their purchasing operations.
IOCL, HPCL And BPCL Share Prices On NSE On 9 October 2026
The shares of these 3 OMCs closed at the following on the National Stock Exchange (NSE) on Friday, 9 October, 2026:
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IOCL shares: ₹126.35, up 0.08%
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HPCL shares: ₹326, down 0.18%
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BPCL shares: ₹287.80, up 0.54%
Rupee Rebounds As RBI Steps In On Dollar Supply
The announcement came as the rupee remained under pressure after trading at record-low levels in recent sessions. On 9 October 2026, the currency appreciated by 17 paise to close at 96.71 against the US dollar, recovering from 96.88 in the previous session.
Foreign-exchange traders attributed the recovery to a weaker US dollar, easing crude oil prices and possible central bank intervention.
The RBI has not disclosed the pricing mechanism for dollar sales or the volume of foreign exchange expected to be provided through the facility. The arrangement is intended to meet the three companies’ full daily dollar requirements, as OMCs require dollars to pay for importing crude oil.
The RBI’s special dollar window is a foreign-exchange measure and does not indicate any change in the RBI rate.
Source
NSE
Also Read - RBI Tightens Forex Derivative Rules And Cuts Exposure Threshold From US$100 Million To US$5 Million
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Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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